Liquid Audio, Inc.

DateInflation Amount Per Share*
7/9/1999**$26.3244***
7/12/1999$24.7326
7/13/1999$23.2723
7/14/1999$25.0245
7/15/1999$24.0125
7/16/1999$24.061
7/19/1999$23.1159
7/20/1999$23.034
7/21/1999$23.7042
7/22/1999$23.7938
7/23/1999$22.7511
7/26/1999$20.1047
7/27/1999$18.481
7/28/1999$20.3469
7/29/1999$20.3284
7/30/1999$22.2093
8/2/1999$21.4656
8/3/1999$20.481
8/4/1999$18.6776
8/5/1999$19.0153
8/6/1999$19.3269
8/9/1999$18.4869
8/10/1999$19.1599
8/11/1999$18.1091
8/12/1999$17.4696
8/13/1999$17.4791
8/16/1999$17.5881
8/17/1999$19.6264
8/18/1999$19.9321
8/19/1999$19.7863
8/20/1999$19.6482
8/23/1999$21.3288
8/24/1999$21.3051
8/25/1999$23.8662
8/26/1999$22.9847
8/27/1999$21.6148
8/30/1999$21.768
8/31/1999$21.4188
9/1/1999$21.9924
9/2/1999$21.0589
9/3/1999$21.4869
9/7/1999$23.4864
9/8/1999$25.3838
9/9/1999$25.7319
9/10/1999$26.2811
9/13/1999$26.1178
9/14/1999$25.972
9/15/1999$26.3244
9/16/1999$26.0772
9/17/1999$26.3244
9/20/1999$26.2044
9/21/1999$24.8898
9/22/1999$26.1781
9/23/1999$26.3244
9/24/1999$26.3244
9/27/1999$26.3244
9/28/1999$26.3244
9/29/1999$26.3244
9/30/1999$26.3244
10/1/1999$26.3244
10/4/1999$26.3244
10/5/1999$26.195
10/6/1999$25.5509
10/7/1999$24.9439
10/8/1999$25.8733
10/11/1999$26.3138
10/12/1999$26.3244
10/13/1999$25.4983
10/14/1999$25.3398
10/15/1999$24.286
10/18/1999$22.9953
10/19/1999$24.1357
10/20/1999$26.1659
10/21/1999$26.3244
10/22/1999$26.3244
10/25/1999$26.0799
10/26/1999$25.5786
10/27/1999$24.5879
10/28/1999$24.9126
10/29/1999$25.594
11/1/1999$24.9687
11/2/1999$26.0262
11/3/1999$26.3244
11/4/1999$26.3177
11/5/1999$26.3024
11/8/1999$26.3244
11/9/1999$26.3244
11/10/1999$26.3244
11/11/1999$26.3244
11/12/1999$26.3244
11/15/1999$26.3244
11/16/1999$26.3244
11/17/1999$26.3244
11/18/1999$26.3244
11/19/1999$26.3244
11/22/1999$26.3244
11/23/1999$26.1883
11/24/1999$26.3244
11/26/1999$25.977
11/29/1999$25.8405
11/30/1999$24.8665
12/1/1999$25.2751
12/2/1999$25.5224
12/3/1999$25.4429
12/6/1999$24.3237
12/7/1999$24.0621
12/8/1999$23.353
12/9/1999$24.543
12/10/1999$24.437
12/13/1999$25.2354
12/14/1999$24.6045
12/15/1999$25.4352
12/16/1999$25.3771
12/17/1999$25.487
12/20/1999$25.0547
12/21/1999$23.5168
12/22/1999$24.6311
12/23/1999$25.7386
12/27/1999$25.7898
12/28/1999$24.8007
12/29/1999$22.4969
12/30/1999$21.5597
12/31/1999$20.4253
1/3/2000$20.3121
1/4/2000$22.9534
1/5/2000$21.1939
1/6/2000$20.9653
1/7/2000$17.2087
1/10/2000$19.9841
1/11/2000$19.3541
1/12/2000$18.4488
1/13/2000$17.9883
1/14/2000$17.7337
1/18/2000$15.8351
1/19/2000$16.8252
1/20/2000$19.6792
1/21/2000$20.2019
1/24/2000$24.376
1/25/2000$24.3285
1/26/2000$23.0921
1/27/2000$24.1448
1/28/2000$23.3588
1/31/2000$21.8032
2/1/2000$21.8051
2/2/2000$23.4715
2/3/2000$22.6302
2/4/2000$22.6127
2/7/2000$24.0722
2/8/2000$23.1451
2/9/2000$22.376
2/10/2000$22.0611
2/11/2000$22.2009
2/14/2000$22.0709
2/15/2000$21.1798
2/16/2000$19.3023
2/17/2000$20.2479
2/18/2000$20.3404
2/22/2000$19.3472
2/23/2000$17.7333
2/24/2000$18.0133
2/25/2000$20.6197
2/28/2000$19.6048
2/29/2000$19.6718
3/1/2000$20.9448
3/2/2000$21.526
3/3/2000$21.6758
3/6/2000$21.4448
3/7/2000$19.7388
3/8/2000$18.6331
3/9/2000$18.0882
3/10/2000$17.0262
3/13/2000$15.0744
3/14/2000$17.0294
3/15/2000$16.3782
3/16/2000$15.4946
3/17/2000$15.1055
3/20/2000$15.0764
3/21/2000$14.9912
3/22/2000$15.0057
3/23/2000$15.4828
3/24/2000$15.2823
3/27/2000$13.6757
3/28/2000$13.7003
3/29/2000$13.0326
3/30/2000$10.2372
3/31/2000$7.3781
4/3/2000$5.679
4/4/2000$5.4801
4/5/2000$4.728
4/6/2000$7.3297
4/7/2000$13.1138
4/10/2000$11.1981
4/11/2000$8.5433
4/12/2000$10.3941
4/13/2000$10.4894
4/14/2000$7.3989
4/17/2000$7.3325
4/18/2000$7.7679
4/19/2000$7.0499
4/20/2000$6.074
4/24/2000$6.1831
4/25/2000$6.1948
4/26/2000$5.9043
4/27/2000$6.7414
4/28/2000$10.6304
5/1/2000$10.4296
5/2/2000$8.8113
5/3/2000$7.0535
5/4/2000$7.6867
5/5/2000$6.8157
5/8/2000$6.9955
5/9/2000$6.3446
5/10/2000$5.8633
5/11/2000$6.3118
5/12/2000$6.1195
5/15/2000$5.3959
5/16/2000$5.1217
5/17/2000$4.9604
5/18/2000$5.029
5/19/2000$5.018
5/22/2000$4.0443
5/23/2000$3.1374
5/24/2000$3.3509
5/25/2000$3.3002
5/26/2000$2.6817
5/30/2000$2.1044
5/31/2000$1.881
6/1/2000$1.8673
6/2/2000$2.1368
6/5/2000$3.122
6/6/2000$3.6615
6/7/2000$3.9207
6/8/2000$5.3025
6/9/2000$6.6455
6/12/2000$4.7791
6/13/2000$5.0445
6/14/2000$4.8807
6/15/2000$4.5338
6/16/2000$4.1732
6/19/2000$4.4937
6/20/2000$4.4429
6/21/2000$4.288
6/22/2000$3.9704
6/23/2000$3.8298
6/26/2000$3.4478
6/27/2000$3.2849
6/28/2000$3.1344
6/29/2000$2.8482
6/30/2000$4.0876
7/3/2000$3.2042
7/5/2000$3.3096
7/6/2000$2.8184
7/7/2000$2.4597
7/10/2000$2.5214
7/11/2000$2.7954
7/12/2000$2.8245
7/13/2000$3.9239
7/14/2000$4.8213
7/17/2000$8.7858
7/18/2000$8.7999
7/19/2000$7.1789
7/20/2000$6.6728
7/21/2000$5.2996
7/24/2000$7.0426
7/25/2000$5.3326
7/26/2000$5.6561
7/27/2000$4.6843
7/28/2000$4.6631
7/31/2000$4.1009
8/1/2000$1.6896
8/2/2000$1.0838
8/3/2000$0.726
8/4/2000$1.5837
8/7/2000$1.7892
8/8/2000$1.5273
8/9/2000$1.1434
8/10/2000$1.2485
8/11/2000$1.0341
8/14/2000$1.0498
8/15/2000$1.5351
8/16/2000$1.2105
8/17/2000$1.3566
8/18/2000$1.4166
8/21/2000$1.5258
8/22/2000$1.0841
8/23/2000$0.9409
8/24/2000$0.9438
8/25/2000$0.8512
8/28/2000$0.868
8/29/2000$1.1023
8/30/2000$1.1209
8/31/2000$1.2316
9/1/2000$1.1189
9/5/2000$1.1728
9/6/2000$3.0188
9/7/2000$1.7113
9/8/2000$1.5254
9/11/2000$1.4868
9/12/2000$1.1832
9/13/2000$1.2691
9/14/2000$1.1161
9/15/2000$1.0215
9/18/2000$1.2524
9/19/2000$1.0595
9/20/2000$0.8976
9/21/2000$0.5588
9/22/2000$0.3149
9/25/2000$0.098
9/26/2000$0.0214
9/27/2000$0
9/28/2000$0.0483
9/29/2000$0.0159
10/2/2000$0.0202
10/3/2000$0
10/4/2000$0
10/5/2000$0.5209
10/6/2000$0.6902
10/9/2000$0.8888
10/10/2000$1.0422
10/11/2000$0.705
10/12/2000$0.678
10/13/2000$0
10/16/2000$0
10/17/2000$0
10/18/2000$0
10/19/2000$0.0099
10/20/2000$0.0702
10/23/2000$0.8952
10/24/2000$0.9918
10/25/2000$0.3839
10/26/2000$0.0122
10/27/2000$0
10/30/2000$0
10/31/2000$0.0133
11/1/2000$0.0164
11/2/2000$0
11/3/2000$0
11/6/2000$0.7074
11/7/2000$0.4523
11/8/2000$0.229
11/9/2000$0.7368
11/10/2000$0.7344
11/13/2000$1.8501
11/14/2000$1.6089
11/15/2000$1.3477
11/16/2000$1.4801
11/17/2000$1.6557
11/20/2000$1.8128
11/21/2000$1.5141
11/22/2000$1.0336
11/24/2000$0.8446
11/27/2000$0.5732
11/28/2000$0.7574
11/29/2000$0.4184
11/30/2000$0.6357
12/1/2000$0.4559
12/4/2000$0.1009
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 $15.00 per share have no artificial inflation.