PAR PAC HOLDINGS INC

Ticker: PARR CUSIP: 69888T207 Class: Common Stock

Arbiter Partners Capital Management LLC's Holding History (CIK: 0001513193)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014

Shares 121,912 Value ($000) $1,981 Avg Close $15.34 Range $12.53 - $16.85

Q3 2014

Shares 121,912 Value ($000) $2,054 Avg Close $18.31 Range $14.00 - $21.25

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	121,912	$1,981	$15.34	$12.53 - $16.85
Q3 2014	121,912	$2,054	$18.31	$14.00 - $21.25