Valley Media, Inc.

DateInflation Amount Per Share*
3/26/1999**$10.6627***
3/29/1999$10.6627
3/30/1999$10.6627
3/31/1999$10.6627
4/1/1999$10.6627
4/5/1999$10.6627
4/6/1999$10.6627
4/7/1999$10.6627
4/8/1999$10.6627
4/9/1999$10.6627
4/12/1999$10.6627
4/13/1999$10.6627
4/14/1999$10.6627
4/15/1999$10.6627
4/16/1999$10.6627
4/19/1999$10.6614
4/20/1999$10.6627
4/21/1999$10.6627
4/22/1999$10.6627
4/23/1999$10.6627
4/26/1999$10.6627
4/27/1999$10.6627
4/28/1999$10.6627
4/29/1999$10.6627
4/30/1999$10.6627
5/3/1999$10.6627
5/4/1999$10.6627
5/5/1999$10.6627
5/6/1999$10.6627
5/7/1999$10.6627
5/10/1999$10.6627
5/11/1999$10.6627
5/12/1999$10.6627
5/13/1999$10.6627
5/14/1999$10.6627
5/17/1999$10.6627
5/18/1999$10.6627
5/19/1999$10.6627
5/20/1999$10.6627
5/21/1999$10.6627
5/24/1999$10.6627
5/25/1999$10.6627
5/26/1999$10.6627
5/27/1999$10.6627
5/28/1999$10.6627
6/1/1999$10.6627
6/2/1999$10.6627
6/3/1999$10.6627
6/4/1999$10.6627
6/7/1999$10.6627
6/8/1999$10.6627
6/9/1999$10.6627
6/10/1999$10.6627
6/11/1999$10.6627
6/14/1999$10.6627
6/15/1999$10.6627
6/16/1999$10.6627
6/17/1999$10.6627
6/18/1999$8.0207
6/21/1999$7.8817
6/22/1999$8.0496
6/23/1999$8.3268
6/24/1999$8.0259
6/25/1999$8.0569
6/28/1999$8.0781
6/29/1999$7.9122
6/30/1999$7.9641
7/1/1999$7.7084
7/2/1999$7.7644
7/6/1999$7.5477
7/7/1999$7.9192
7/8/1999$7.7247
7/9/1999$7.7184
7/12/1999$8.0317
7/13/1999$8.2528
7/14/1999$9.0559
7/15/1999$8.9895
7/16/1999$8.9224
7/19/1999$8.5552
7/20/1999$8.8295
7/21/1999$8.7303
7/22/1999$8.8121
7/23/1999$9.0892
7/26/1999$8.9467
7/27/1999$9.1194
7/28/1999$8.8921
7/29/1999$8.5006
7/30/1999$8.6585
8/2/1999$8.0356
8/3/1999$7.7906
8/4/1999$7.2975
8/5/1999$7.4788
8/6/1999$7.1688
8/9/1999$7.1093
8/10/1999$6.9297
8/11/1999$7.4737
8/12/1999$7.4815
8/13/1999$7.1191
8/16/1999$7.3974
8/17/1999$7.6451
8/18/1999$7.5246
8/19/1999$7.4061
8/20/1999$7.2116
8/23/1999$7.3237
8/24/1999$7.8784
8/25/1999$6.8678
8/26/1999$6.6258
8/27/1999$6.5965
8/30/1999$6.6368
8/31/1999$6.6298
9/1/1999$6.9409
9/2/1999$7.0047
9/3/1999$7.0436
9/7/1999$7.7309
9/8/1999$7.8632
9/9/1999$7.9794
9/10/1999$7.7221
9/13/1999$7.733
9/14/1999$7.3512
9/15/1999$7.21
9/16/1999$7.2092
9/17/1999$7.2604
9/20/1999$7.1614
9/21/1999$7.2092
9/22/1999$7.203
9/23/1999$7.0077
9/24/1999$6.7566
9/27/1999$6.6886
9/28/1999$6.5002
9/29/1999$6.6021
9/30/1999$6.4752
10/1/1999$6.569
10/4/1999$6.5244
10/5/1999$6.5217
10/6/1999$6.6065
10/7/1999$6.4875
10/8/1999$6.4848
10/11/1999$6.4793
10/12/1999$6.1152
10/13/1999$5.7553
10/14/1999$5.7235
10/15/1999$5.6117
10/18/1999$5.7748
10/19/1999$6.0614
10/20/1999$6.009
10/21/1999$6.0759
10/22/1999$6.0734
10/25/1999$5.9491
10/26/1999$5.5111
10/27/1999$5.5457
10/28/1999$5.5917
10/29/1999$6.1627
11/1/1999$7.3501
11/2/1999$7.2235
11/3/1999$7.2761
11/4/1999$5.8969
11/5/1999$5.1351
11/8/1999$5.2529
11/9/1999$5.2884
11/10/1999$4.903
11/11/1999$4.4862
11/12/1999$4.1695
11/15/1999$4.7997
11/16/1999$5.0362
11/17/1999$4.7919
11/18/1999$4.8938
11/19/1999$4.8877
11/22/1999$4.9157
11/23/1999$4.7052
11/24/1999$5.0044
11/26/1999$4.7818
11/29/1999$4.8817
11/30/1999$4.6506
12/1/1999$4.6101
12/2/1999$4.4637
12/3/1999$4.4163
12/6/1999$4.283
12/7/1999$3.9042
12/8/1999$4.0948
12/9/1999$3.8456
12/10/1999$3.9982
12/13/1999$3.8371
12/14/1999$4.6056
12/15/1999$4.3411
12/16/1999$4.072
12/17/1999$4.0046
12/20/1999$3.9335
12/21/1999$4.0359
12/22/1999$4.0014
12/23/1999$3.8391
12/27/1999$3.8354
12/28/1999$3.7455
12/29/1999$3.8213
12/30/1999$3.7279
12/31/1999$3.7559
1/3/2000$3.8957
1/4/2000$3.7856
1/5/2000$3.7616
1/6/2000$3.7892
1/7/2000$3.8587
1/10/2000$3.9481
1/11/2000$3.7829
1/12/2000$3.8261
1/13/2000$3.9056
1/14/2000$3.7593
1/18/2000$3.662
1/19/2000$3.7853
1/20/2000$3.8401
1/21/2000$3.7441
1/24/2000$3.9579
1/25/2000$4.3173
1/26/2000$4.7018
1/27/2000$4.4744
1/28/2000$4.4411
1/31/2000$4.0478
2/1/2000$4.0595
2/2/2000$4.021
2/3/2000$4.1161
2/4/2000$4.5478
2/7/2000$4.8471
2/8/2000$4.58
2/9/2000$4.6567
2/10/2000$4.5104
2/11/2000$4.4107
2/14/2000$4.7216
2/15/2000$3.9663
2/16/2000$3.6552
2/17/2000$3.699
2/18/2000$3.6655
2/22/2000$3.3516
2/23/2000$3.0728
2/24/2000$3.0572
2/25/2000$3.1966
2/28/2000$3.3229
2/29/2000$3.1724
3/1/2000$3.2848
3/2/2000$3.2284
3/3/2000$3.1955
3/6/2000$3.3268
3/7/2000$3.4003
3/8/2000$3.1757
3/9/2000$3.394
3/10/2000$4.019
3/13/2000$3.9432
3/14/2000$4.2583
3/15/2000$4.1805
3/16/2000$3.8358
3/17/2000$3.8755
3/20/2000$3.8602
3/21/2000$3.7394
3/22/2000$3.7136
3/23/2000$3.6217
3/24/2000$3.635
3/27/2000$3.5808
3/28/2000$3.5898
3/29/2000$3.6238
3/30/2000$3.2199
3/31/2000$3.0145
4/3/2000$2.8138
4/4/2000$2.8222
4/5/2000$2.9056
4/6/2000$3.0166
4/7/2000$3.1372
4/10/2000$2.9317
4/11/2000$3.0516
4/12/2000$2.8901
4/13/2000$2.8123
4/14/2000$2.4729
4/17/2000$2.268
4/18/2000$2.0794
4/19/2000$2.3017
4/20/2000$2.2741
4/24/2000$2.2712
4/25/2000$2.3074
4/26/2000$2.3918
4/27/2000$2.2294
4/28/2000$2.357
5/1/2000$2.4071
5/2/2000$2.439
5/3/2000$2.3333
5/4/2000$2.3346
5/5/2000$2.3148
5/8/2000$2.3443
5/9/2000$2.3605
5/10/2000$2.4671
5/11/2000$2.4381
5/12/2000$2.3336
5/15/2000$2.2859
5/16/2000$2.293
5/17/2000$2.276
5/18/2000$2.3289
5/19/2000$2.342
5/22/2000$2.3623
5/23/2000$2.398
5/24/2000$2.34
5/25/2000$2.3522
5/26/2000$1.9396
5/30/2000$1.3943
5/31/2000$1.4863
6/1/2000$1.2223
6/2/2000$1.2612
6/5/2000$1.5694
6/6/2000$1.665
6/7/2000$1.502
6/8/2000$1.6292
6/9/2000$1.6497
6/12/2000$1.6625
6/13/2000$1.6896
6/14/2000$1.7799
6/15/2000$1.6913
6/16/2000$1.6278
6/19/2000$2.08
6/20/2000$2.0448
6/21/2000$2.0252
6/22/2000$1.8213
6/23/2000$1.7012
6/26/2000$1.6782
6/27/2000$1.6748
6/28/2000$1.6151
6/29/2000$1.7692
6/30/2000$1.7349
7/3/2000$1.597
7/5/2000$1.4226
7/6/2000$1.6974
7/7/2000$1.3488
7/10/2000$1.494
7/11/2000$1.3769
7/12/2000$1.3248
7/13/2000$1.202
7/14/2000$1.3254
7/17/2000$1.3757
7/18/2000$1.2964
7/19/2000$1.2767
7/20/2000$1.1707
7/21/2000$1.1813
7/24/2000$1.251
7/25/2000$1.0361
7/26/2000$1.1222
7/27/2000$1.1105
7/28/2000$1.2888
7/31/2000$0.9361
8/1/2000$0.8402
8/2/2000$0.8155
8/3/2000$0.3731
8/4/2000$0.4924
8/7/2000$0.7702
8/8/2000$0.5473
8/9/2000$0.6384
8/10/2000$0.6728
8/11/2000$0.6642
8/14/2000$0.4093
8/15/2000$0.7795
8/16/2000$0.7444
8/17/2000$0.8973
8/18/2000$0.5846
8/21/2000$0.7045
8/22/2000$0.7029
8/23/2000$0.6766
8/24/2000$0.6569
8/25/2000$0.7925
8/28/2000$0.9657
8/29/2000$0.9915
8/30/2000$0.9036
8/31/2000$0.8681
9/1/2000$0.862
9/5/2000$0.9
9/6/2000$1.2022
9/7/2000$1.1626
9/8/2000$1.1525
9/11/2000$1.0033
9/12/2000$1.2148
9/13/2000$0.7639
9/14/2000$0.5047
9/15/2000$0.473
9/18/2000$0.5698
9/19/2000$0.3815
9/20/2000$0.6194
9/21/2000$0.402
9/22/2000$0.3405
9/25/2000$0.4698
9/26/2000$0.2365
9/27/2000$0.1592
9/28/2000$0.1983
9/29/2000$0.1124
10/2/2000$0.2547
10/3/2000$0.3958
10/4/2000$0.2971
10/5/2000$0.4179
10/6/2000$0.234
10/9/2000$0.1435
10/10/2000$0.4128
10/11/2000$0.2269
10/12/2000$0.1442
10/13/2000$0.0423
10/16/2000$0.2051
10/17/2000$0.0875
10/18/2000$0
10/19/2000$0.1539
10/20/2000$0
10/23/2000$0
10/24/2000$0
10/25/2000$0
10/26/2000$0
10/27/2000$0.0024
10/30/2000$0
10/31/2000$0
11/1/2000$0
11/2/2000$0
11/3/2000$0
11/6/2000$0
11/7/2000$0.0032
11/8/2000$0.0893
11/9/2000$0.2903
11/10/2000$0.5276
11/13/2000$0.3888
11/14/2000$0.0597
11/15/2000$0.0459
11/16/2000$0.0375
11/17/2000$0.2837
11/20/2000$0.0234
11/21/2000$0.2766
11/22/2000$0.449
11/24/2000$0.387
11/27/2000$0.3387
11/28/2000$0.4611
11/29/2000$0.5359
11/30/2000$0.4605
12/1/2000$0.4425
12/4/2000$0.5019
12/5/2000$0.0125
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 $16.00 per share have no artificial inflation.