EXCEED COMPANY LTD

Ticker: EDSFF CUSIP: G32335104 Class: COM

MORGAN STANLEY's Holding History (CIK: 0000895421)

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

Q1 2015

Shares 506 Value ($000) $1 Avg Close $1.54 Range $1.45 - $1.59

Q4 2014

Shares 506 Value ($000) $1 Avg Close $1.58 Range $1.46 - $1.70

Q3 2014

Shares 506 Value ($000) $1 Avg Close $1.66 Range $1.55 - $1.76

Q2 2014

Shares 506 Value ($000) $1 Avg Close $1.66 Range $1.53 - $1.77

Q1 2014

Shares 506 Value ($000) $1 Avg Close $1.71 Range $1.65 - $1.80

Q4 2013

Shares 450 Value ($000) $1 Avg Close $1.57 Range $1.40 - $1.85

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	506	$1	$1.54	$1.45 - $1.59
Q4 2014	506	$1	$1.58	$1.46 - $1.70
Q3 2014	506	$1	$1.66	$1.55 - $1.76
Q2 2014	506	$1	$1.66	$1.53 - $1.77
Q1 2014	506	$1	$1.71	$1.65 - $1.80
Q4 2013	450	$1	$1.57	$1.40 - $1.85