RAFAEL HLDGS INC

Ticker: RFL CUSIP: 75062E106 Class: COM CL B

Arbiter Partners Capital Management LLC's Holding History (CIK: 0001513193)

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

Q4 2018

Shares 103,155 Value ($000) $818 Avg Close $8.30 Range $6.80 - $9.11

Q3 2018

Shares 103,155 Value ($000) $867 Avg Close $9.12 Range $8.28 - $10.16

Q2 2018

Shares 103,155 Value ($000) $948 Avg Close $7.88 Range $4.44 - $10.17

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2018	103,155	$818	$8.30	$6.80 - $9.11
Q3 2018	103,155	$867	$9.12	$8.28 - $10.16
Q2 2018	103,155	$948	$7.88	$4.44 - $10.17