SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

WEDGE CAPITAL MANAGEMENT L L P/NC's Holding History (CIK: 0001015308)

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

Q1 2015

Shares 44,400 Value ($000) $1,384 Avg Close $15.28 Range $13.76 - $16.84

Q4 2014

Shares 44,400 Value ($000) $1,388 Avg Close $14.14 Range $11.84 - $16.00

Q3 2014

Shares 46,900 Value ($000) $1,164 Avg Close $14.04 Range $12.36 - $15.55

Q2 2014

Shares 44,500 Value ($000) $1,355 Avg Close $14.24 Range $12.61 - $16.38

Q1 2014

Shares 41,300 Value ($000) $1,334 Avg Close $13.41 Range $11.51 - $17.00

Q4 2013

Shares 37,100 Value ($000) $952 Avg Close $12.60 Range $11.10 - $14.57

Q3 2013

Shares 37,800 Value ($000) $911 Avg Close $9.63 Range $8.38 - $12.18

Q2 2013

Shares 42,900 Value ($000) $716 Avg Close $8.21 Range $6.92 - $8.96

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	44,400	$1,384	$15.28	$13.76 - $16.84
Q4 2014	44,400	$1,388	$14.14	$11.84 - $16.00
Q3 2014	46,900	$1,164	$14.04	$12.36 - $15.55
Q2 2014	44,500	$1,355	$14.24	$12.61 - $16.38
Q1 2014	41,300	$1,334	$13.41	$11.51 - $17.00
Q4 2013	37,100	$952	$12.60	$11.10 - $14.57
Q3 2013	37,800	$911	$9.63	$8.38 - $12.18
Q2 2013	42,900	$716	$8.21	$6.92 - $8.96