SALEM MEDIA GROUP INC

Ticker: SALM CUSIP: 794093104 Class: COM

STRS OHIO's Holding History (CIK: 0000820478)

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

Q1 2018

Shares 6,700 Value ($000) $24 Avg Close $4.29 Range $3.55 - $4.80

Q4 2017

Shares 6,700 Value ($000) $30 Avg Close $5.36 Range $3.90 - $6.75

Q3 2017

Shares 6,700 Value ($000) $44 Avg Close $6.65 Range $5.95 - $7.45

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2018	6,700	$24	$4.29	$3.55 - $4.80
Q4 2017	6,700	$30	$5.36	$3.90 - $6.75
Q3 2017	6,700	$44	$6.65	$5.95 - $7.45