PITNEY BOWES INC

Ticker: PBI CUSIP: 724479100 Class: EQTY

Ground Swell Capital, LLC's Holding History (CIK: 0001534450)

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

Q3 2014
Shares 741 Value ($000) $19 Avg Close $26.74 Range $24.63 - $28.37
Q2 2014
Shares 226 Value ($000) $6 Avg Close $26.63 Range $24.06 - $28.23