TOWER GROUP

CUSIP: 891777AC7 Class: DEB

Cutler Capital Management, LLC's Holding History (CIK: 0001353098)

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

Q1 2014
Shares 1,425,000 Value ($000) $1,347 Avg Close — Range —
Q4 2013
Shares 4,328,000 Value ($000) $3,665 Avg Close — Range —
Q3 2013
Shares 4,828,000 Value ($000) $4,061 Avg Close — Range —