SAFE BULKERS INC

Ticker: SB CUSIP: Y7388L103 Class: Common Stock

SYSTEMATIC FINANCIAL MANAGEMENT LP's Holding History (CIK: 0001085936)

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

Q4 2014

Shares 309,075 Value ($000) $1,208 Avg Close $5.02 Range $3.77 - $6.77

Q3 2014

Shares 2,088,885 Value ($000) $13,911 Avg Close $8.06 Range $6.65 - $9.92

Q2 2014

Shares 2,090,810 Value ($000) $20,406 Avg Close $8.70 Range $7.76 - $10.18

Q1 2014

Shares 2,151,660 Value ($000) $20,483 Avg Close $9.93 Range $8.65 - $11.48

Q4 2013

Shares 3,145,872 Value ($000) $32,717 Avg Close $7.94 Range $6.21 - $10.95

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	309,075	$1,208	$5.02	$3.77 - $6.77
Q3 2014	2,088,885	$13,911	$8.06	$6.65 - $9.92
Q2 2014	2,090,810	$20,406	$8.70	$7.76 - $10.18
Q1 2014	2,151,660	$20,483	$9.93	$8.65 - $11.48
Q4 2013	3,145,872	$32,717	$7.94	$6.21 - $10.95