PITNEY BOWES INC

Ticker: PBI CUSIP: 724479100 Class: EQTY

Bell Bank's Holding History (CIK: 0001002672)

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

Q3 2017

Shares 170,954 Value ($000) $2,395 Avg Close $13.73 Range $12.40 - $16.13

Q2 2017

Shares 168,680 Value ($000) $2,547 Avg Close $14.61 Range $12.70 - $16.26

Q1 2017

Shares 83,581 Value ($000) $1,096 Avg Close $14.13 Range $12.31 - $16.60

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2017	170,954	$2,395	$13.73	$12.40 - $16.13
Q2 2017	168,680	$2,547	$14.61	$12.70 - $16.26
Q1 2017	83,581	$1,096	$14.13	$12.31 - $16.60