PITNEY BOWES INC

Ticker: PBI CUSIP: 724479100 Class: EQTY

NS Partners Ltd's Holding History (CIK: 0001657111)

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

Q1 2016

Shares 152,647 Value ($000) $3,288 Avg Close $19.00 Range $16.24 - $21.60

Q4 2015

Shares 235,501 Value ($000) $4,863 Avg Close $20.68 Range $19.12 - $21.76

Q3 2015

Shares 254,130 Value ($000) $5,044 Avg Close $20.52 Range $18.59 - $21.64

Q2 2015

Shares 257,053 Value ($000) $5,349 Avg Close $22.54 Range $20.79 - $23.93

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	152,647	$3,288	$19.00	$16.24 - $21.60
Q4 2015	235,501	$4,863	$20.68	$19.12 - $21.76
Q3 2015	254,130	$5,044	$20.52	$18.59 - $21.64
Q2 2015	257,053	$5,349	$22.54	$20.79 - $23.93