NAVIGATOR HOLDINGS LTD

Ticker: NVGS CUSIP: Y62132108 Class: SHS

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

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

Q1 2014

Shares 88,300 Value ($000) $2,296 Avg Close $23.86 Range $20.67 - $27.90

Q4 2013

Shares 88,300 Value ($000) $2,379 Avg Close $39.40 Range $18.84 - $58.03

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	88,300	$2,296	$23.86	$20.67 - $27.90
Q4 2013	88,300	$2,379	$39.40	$18.84 - $58.03