PITNEY BOWES INC

Ticker: PBI CUSIP: 724479100 Class: EQTY

OBERMEYER WOOD INVESTMENT COUNSEL, LLLP's Holding History (CIK: 0001349654)

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

Q4 2013

Shares 18,450 Value ($000) $430 Avg Close $21.51 Range $18.21 - $24.18

Q3 2013

Shares 19,150 Value ($000) $348 Avg Close $16.40 Range $13.76 - $18.82

Q2 2013

Shares 19,150 Value ($000) $281 Avg Close $14.77 Range $13.12 - $16.43

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	18,450	$430	$21.51	$18.21 - $24.18
Q3 2013	19,150	$348	$16.40	$13.76 - $18.82
Q2 2013	19,150	$281	$14.77	$13.12 - $16.43