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SUMMIT INVESTMENT PARTNERS INC
> TWX
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 09/30/2008 | TIME WARNER INC. | TWX | 274,996 | -1,918 | 3,605,000 | -493,000 | $13.11 |
| 06/30/2008 | TIME WARNER INC. | TWX | 276,914 | 53,995 | 4,098,000 | 973,000 | $14.80 |
| 03/31/2008 | TIME WARNER INC. | TWX | 222,919 | 11,665 | 3,125,000 | -754,000 | $14.02 |
| 12/31/2007 | TIME WARNER INC. | TWX | 205,573 | -5,681 | 3,394,000 | -485,000 | $16.51 |
| 09/30/2007 | TIME WARNER INC. | TWX | 211,254 | -1,367 | 3,879,000 | -596,000 | $18.36 |
| 06/30/2007 | TIME WARNER INC. | TWX | 212,621 | 6,544 | 4,475,000 | 412,000 | $21.05 |
| 03/31/2007 | TIME WARNER INC. | TWX | 206,077 | -47,778 | 4,063,000 | -1,465,000 | $19.72 |
| 12/31/2006 | TIME WARNER INC. | TWX | 253,855 | -40,832 | 5,528,000 | 156,000 | $21.78 |
| 09/30/2006 | TIME WARNER INC. | TWX | 294,687 | -7,813 | 5,372,000 | 139,000 | $18.23 |
| 06/30/2006 | TIME WARNER INC. | TWX | 302,500 | 18,699 | 5,233,000 | 468,000 | $17.30 |
| 03/31/2006 | TIME WARNER INC. | TWX | 283,801 | -5,306 | 4,765,000 | -277,000 | $16.79 |
| 12/31/2005 | TIME WARNER INC. | TWX | 289,107 | -2,664 | 5,042,000 | -241,000 | $17.44 |
| 09/30/2005 | TIME WARNER INC. | TWX | 291,771 | 291,771 | 5,283,000 | 5,283,000 | $18.11 |
| 06/30/2005 | TIME WARNER INC. | TWX | 290,088 | 5,820 | 4,847,000 | -141,000 | $16.71 |
| 03/31/2005 | TIME WARNER INC. | TWX | 284,268 | 8,030 | 4,988,000 | -382,000 | $17.55 |
| 12/31/2004 | TIME WARNER INC. | TWX | 276,238 | 8,300 | 5,370,000 | 1,046,000 | $19.44 |
| 09/30/2004 | TIME WARNER INC. | TWX | 267,938 | 44,800 | 4,324,000 | 402,000 | $16.14 |
| 06/30/2004 | TIME WARNER INC. | TWX | 223,138 | -295 | 3,922,000 | 155,000 | $17.58 |
| 03/31/2004 | TIME WARNER INC. | TWX | 223,433 | -8,107 | 3,767,000 | -398,000 | $16.86 |
| 12/31/2003 | TIME WARNER INC. | TWX | 231,540 | 231,540 | 4,165,000 | 4,165,000 | $17.99 |
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