UNITED AIRLS HLDGS INC

Ticker: UAL CUSIP: 910047109 Class: COM

MSD Partners, L.P.'s Holding History (CIK: 0001514334)

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

Q1 2014

Shares 916,504 Value ($000) $40,904 Avg Close $44.98 Range $37.50 - $49.20

Q4 2013

Shares 908,243 Value ($000) $34,359 Avg Close $35.03 Range $29.11 - $40.19

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	916,504	$40,904	$44.98	$37.50 - $49.20
Q4 2013	908,243	$34,359	$35.03	$29.11 - $40.19