Ashford.com, Inc.

DateInflation Amount Per Share*
9/23/1999**$5.83399***
9/24/1999$5.64527
9/27/1999$5.51412
9/28/1999$5.01313
9/29/1999$4.52203
9/30/1999$3.94183
10/1/1999$4.52021
10/4/1999$4.50494
10/5/1999$4.47091
10/6/1999$4.67974
10/7/1999$5.18638
10/8/1999$5.30841
10/11/1999$5.42717
10/12/1999$5.83399
10/13/1999$5.76885
10/14/1999$5.54892
10/15/1999$5.53271
10/18/1999$5.1657
10/19/1999$4.67135
10/20/1999$4.71044
10/21/1999$4.46545
10/22/1999$4.90016
10/25/1999$4.33836
10/26/1999$4.65038
10/27/1999$4.46631
10/28/1999$4.51031
10/29/1999$4.36013
11/1/1999$4.01602
11/2/1999$4.0142
11/3/1999$4.40969
11/4/1999$4.21741
11/5/1999$4.32918
11/8/1999$4.3212
11/9/1999$4.95066
11/10/1999$4.68899
11/11/1999$5.17745
11/12/1999$5.73522
11/15/1999$5.4911
11/16/1999$5.25699
11/17/1999$5.60733
11/18/1999$5.83399
11/19/1999$5.83399
11/22/1999$5.83399
11/23/1999$5.67428
11/24/1999$5.83399
11/26/1999$5.83399
11/29/1999$5.83399
11/30/1999$5.83399
12/1/1999$5.83399
12/2/1999$5.83399
12/3/1999$5.83399
12/6/1999$5.83399
12/7/1999$5.83399
12/8/1999$5.83399
12/9/1999$5.83399
12/10/1999$5.83399
12/13/1999$5.83399
12/14/1999$5.83399
12/15/1999$5.83399
12/16/1999$5.83399
12/17/1999$5.83399
12/20/1999$5.83399
12/21/1999$5.83399
12/22/1999$5.83399
12/23/1999$5.5753
12/27/1999$5.32115
12/28/1999$4.76265
12/29/1999$5.18038
12/30/1999$4.55551
12/31/1999$4.55204
1/3/2000$5.53344
1/4/2000$5.64784
1/5/2000$5.51521
1/6/2000$5.37404
1/7/2000$5.03474
1/10/2000$5.36984
1/11/2000$4.61335
1/12/2000$4.68893
1/13/2000$4.57973
1/14/2000$4.80593
1/18/2000$4.55159
1/19/2000$4.42479
1/20/2000$4.54113
1/21/2000$4.81988
1/24/2000$4.97427
1/25/2000$4.83185
1/26/2000$4.7663
1/27/2000$5.18077
1/28/2000$4.46344
1/31/2000$3.75551
2/1/2000$3.35828
2/2/2000$3.56903
2/3/2000$4.067
2/4/2000$3.84156
2/7/2000$3.5767
2/8/2000$3.52656
2/9/2000$3.47999
2/10/2000$3.36214
2/11/2000$3.32803
2/14/2000$3.29521
2/15/2000$3.0703
2/16/2000$2.85334
2/17/2000$2.64487
2/18/2000$3.02087
2/22/2000$2.76933
2/23/2000$2.8935
2/24/2000$2.78206
2/25/2000$2.51722
2/28/2000$2.54968
2/29/2000$2.77114
3/1/2000$3.85094
3/2/2000$3.38881
3/3/2000$3.53952
3/6/2000$3.29651
3/7/2000$2.99631
3/8/2000$2.98955
3/9/2000$3.298
3/10/2000$3.2665
3/13/2000$3.03691
3/14/2000$3.23105
3/15/2000$3.15519
3/16/2000$3.3381
3/17/2000$3.06256
3/20/2000$2.45515
3/21/2000$2.0812
3/22/2000$2.36478
3/23/2000$2.25569
3/24/2000$2.19071
3/27/2000$1.93271
3/28/2000$1.86617
3/29/2000$1.59174
3/30/2000$1.41081
3/31/2000$1.28127
4/3/2000$1.03952
4/4/2000$0.76791
4/5/2000$1.00596
4/6/2000$1.70878
4/7/2000$1.85664
4/10/2000$1.53147
4/11/2000$1.12301
4/12/2000$1.06243
4/13/2000$1.07994
4/14/2000$0.65512
4/17/2000$0.53845
4/18/2000$0.57025
4/19/2000$0.53709
4/20/2000$0.44751
4/24/2000$0.41643
4/25/2000$0.45478
4/26/2000$0.4703
4/27/2000$0.59689
4/28/2000$0.83789
5/1/2000$1.26147
5/2/2000$0.92222
5/3/2000$1.06875
5/4/2000$1.17974
5/5/2000$1.01654
5/8/2000$0.89354
5/9/2000$0.98974
5/10/2000$1.14859
5/11/2000$1.11618
5/12/2000$1.10382
5/15/2000$1.02321
5/16/2000$1.02681
5/17/2000$1.0746
5/18/2000$1.06708
5/19/2000$1.06859
5/22/2000$1.10441
5/23/2000$1.05096
5/24/2000$1.11481
5/25/2000$0.97245
5/26/2000$0.69214
5/30/2000$0.56205
5/31/2000$0.55482
6/1/2000$0.48077
6/2/2000$0.68257
6/5/2000$0.67985
6/6/2000$0.57367
6/7/2000$0.5839
6/8/2000$0.71016
6/9/2000$0.64177
6/12/2000$0.77581
6/13/2000$0.64619
6/14/2000$0.61502
6/15/2000$0.61565
6/16/2000$0.55287
6/19/2000$0.5199
6/20/2000$0.39126
6/21/2000$0.34908
6/22/2000$0.32007
6/23/2000$0.32466
6/26/2000$0.26482
6/27/2000$0.3433
6/28/2000$0.45223
6/29/2000$0.34354
6/30/2000$0.44935
7/3/2000$0.2856
7/5/2000$0.48442
7/6/2000$0.33808
7/7/2000$0.41161
7/10/2000$0.39194
7/11/2000$0.42735
7/12/2000$0.46068
7/13/2000$0.47608
7/14/2000$0.56675
7/17/2000$0.85673
7/18/2000$0.85127
7/19/2000$0.93747
7/20/2000$0.94438
7/21/2000$0.99917
7/24/2000$1.02084
7/25/2000$1.00523
7/26/2000$1.04973
7/27/2000$0.79686
7/28/2000$0.76481
7/31/2000$0.648
8/1/2000$0.72679
8/2/2000$0.73031
8/3/2000$0.64802
8/4/2000$0.55133
8/7/2000$0.53161
8/8/2000$0.52941
8/9/2000$0.49629
8/10/2000$0.51558
8/11/2000$0.51073
8/14/2000$0.52216
8/15/2000$0.58196
8/16/2000$0.48564
8/17/2000$0.40406
8/18/2000$0.4662
8/21/2000$0.4948
8/22/2000$0.50943
8/23/2000$0.38522
8/24/2000$0.34317
8/25/2000$0.34911
8/28/2000$0.40332
8/29/2000$0.33794
8/30/2000$0.40385
8/31/2000$0.35248
9/1/2000$0.50554
9/5/2000$0.55782
9/6/2000$0.74352
9/7/2000$0.97139
9/8/2000$1.00042
9/11/2000$1.02216
9/12/2000$0.94128
9/13/2000$0.94209
9/14/2000$0.89795
9/15/2000$0.89942
9/18/2000$0.66885
9/19/2000$0.58644
9/20/2000$0.57967
9/21/2000$0.72288
9/22/2000$0.74108
9/25/2000$0.74536
9/26/2000$0.83274
9/27/2000$0.81058
9/28/2000$0.77986
9/29/2000$0.78701
10/2/2000$0.67278
10/3/2000$0.57468
10/4/2000$0.49163
10/5/2000$0.41262
10/6/2000$0.36982
10/9/2000$0.34076
10/10/2000$0.30643
10/11/2000$0.18444
10/12/2000$0.00276
10/13/2000$0.16111
10/16/2000$0.26389
10/17/2000$0.3324
10/18/2000$0.48492
10/19/2000$0.26669
10/20/2000$0.19045
10/23/2000$0.36598
10/24/2000$0.33673
10/25/2000$0.25509
10/26/2000$0.33341
10/27/2000$0.39138
10/30/2000$0.2452
10/31/2000$0.23792
11/1/2000$0.27822
11/2/2000$0.23908
11/3/2000$0.18532
11/6/2000$0.14703
11/7/2000$0.13058
11/8/2000$0.17552
11/9/2000$0.12032
11/10/2000$0.1658
11/13/2000$0.20647
11/14/2000$0.13119
11/15/2000$0.31094
11/16/2000$0.21595
11/17/2000$0.24484
11/20/2000$0.1957
11/21/2000$0.26064
11/22/2000$0.06868
11/24/2000$0.04947
11/27/2000$0.0881
11/28/2000$0.04393
11/29/2000$0.03512
11/30/2000$0.06337
12/1/2000$0
12/4/2000$0
12/5/2000$0
12/6/2000$0

* Data shown are adjusted forward for all stock splits between the IPO and 12/6/00.

** Purchases on a date not listed in the chart above have no artificial inflation.

*** Purchases in the IPO itself at $13.00 per share have no artificial inflation.