ASSURED GUARANTY LTD

CUSIP: g0585r106 Class: COM

CAPITAL MANAGEMENT ASSOCIATES /NY/'s Holding History (CIK: 0000825293)

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

Q4 2013
Shares 28,050 Value ($000) $662 Avg Close — Range —
Q3 2013
Shares 28,750 Value ($000) $539 Avg Close — Range —
Q2 2013
Shares 11,300 Value ($000) $249 Avg Close — Range —