PITNEY BOWES INC

Ticker: PBI CUSIP: 724479100 Class: EQTY

VestGen Investment Management's Holding History (CIK: 0001511739)

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

Q4 2016

Shares 188,105 Value ($000) $2,857 Avg Close $15.92 Range $14.22 - $18.20

Q2 2016

Shares 253,663 Value ($000) $4,515 Avg Close $19.27 Range $16.28 - $21.81

Q1 2016

Shares 195,419 Value ($000) $4,209 Avg Close $19.00 Range $16.24 - $21.60

Q4 2015

Shares 405,591 Value ($000) $8,375 Avg Close $20.68 Range $19.12 - $21.76

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	188,105	$2,857	$15.92	$14.22 - $18.20
Q2 2016	253,663	$4,515	$19.27	$16.28 - $21.81
Q1 2016	195,419	$4,209	$19.00	$16.24 - $21.60
Q4 2015	405,591	$8,375	$20.68	$19.12 - $21.76