STEPAN CO

Ticker: SCL CUSIP: 858586100 Class: Common Stock

THIRD AVENUE MANAGEMENT LLC's Holding History (CIK: 0001099281)

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

Q1 2015

Shares 59,197 Value ($000) $2,466 Avg Close $39.81 Range $37.20 - $41.80

Q4 2014

Shares 188,471 Value ($000) $7,554 Avg Close $42.47 Range $36.34 - $46.85

Q3 2014

Shares 589,115 Value ($000) $26,145 Avg Close $48.97 Range $44.22 - $54.14

Q2 2014

Shares 478,486 Value ($000) $25,293 Avg Close $56.15 Range $50.98 - $66.51

Q1 2014

Shares 617,103 Value ($000) $39,840 Avg Close $62.71 Range $59.17 - $65.49

Q4 2013

Shares 617,103 Value ($000) $40,500 Avg Close $61.02 Range $56.06 - $67.20

Q3 2013

Shares 533,312 Value ($000) $30,788 Avg Close $57.91 Range $55.51 - $60.31

Q2 2013

Shares 471,767 Value ($000) $26,235 Avg Close $56.48 Range $52.34 - $63.27

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	59,197	$2,466	$39.81	$37.20 - $41.80
Q4 2014	188,471	$7,554	$42.47	$36.34 - $46.85
Q3 2014	589,115	$26,145	$48.97	$44.22 - $54.14
Q2 2014	478,486	$25,293	$56.15	$50.98 - $66.51
Q1 2014	617,103	$39,840	$62.71	$59.17 - $65.49
Q4 2013	617,103	$40,500	$61.02	$56.06 - $67.20
Q3 2013	533,312	$30,788	$57.91	$55.51 - $60.31
Q2 2013	471,767	$26,235	$56.48	$52.34 - $63.27