PITNEY BOWES INC

Ticker: PBI CUSIP: 724479100 Class: EQTY

Park Avenue Institutional Advisers LLC's Holding History (CIK: 0001640801)

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

Q2 2016

Shares 1,210 Value ($000) $22 Avg Close $19.27 Range $16.28 - $21.81

Q1 2016

Shares 1,242 Value ($000) $27 Avg Close $19.00 Range $16.24 - $21.60

Q4 2015

Shares 1,277 Value ($000) $26 Avg Close $20.68 Range $19.12 - $21.76

Q3 2015

Shares 1,341 Value ($000) $27 Avg Close $20.52 Range $18.59 - $21.64

Q2 2015

Shares 1,360 Value ($000) $28 Avg Close $22.54 Range $20.79 - $23.93

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	1,210	$22	$19.27	$16.28 - $21.81
Q1 2016	1,242	$27	$19.00	$16.24 - $21.60
Q4 2015	1,277	$26	$20.68	$19.12 - $21.76
Q3 2015	1,341	$27	$20.52	$18.59 - $21.64
Q2 2015	1,360	$28	$22.54	$20.79 - $23.93