INTELSAT S A

Ticker: I 5.75 05/01/16 A CUSIP: L5140P119 Class: MAN CONV JR PFD

CAMDEN ASSET MANAGEMENT L P /CA's Holding History (CIK: 0000903944)

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

Q3 2014

Shares 72,500 Value ($000) $3,355 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	72,500	$3,355	—	—