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Stock Trading History of Bilodeau Gerard R

The following table details the trading activities (stock purchases, stock sales, and stock option exercises) reported to the Securities and Exchange Commission (SEC) by insider Bilodeau Gerard R since year 2005. The trader's CIK number is 1184661. At the time of this reporting, Bilodeau Gerard R is the SVP & Corporate Secretary of Arrow Financial Corp (stock ticker symbol AROW).

Stock purchases, sales, and option exercises reported by *Bilodeau Gerard R* since 2005.
Trade Date	Symbol	Company Name (Issuer)	Trade Type	Shares	Price ($)	Value ($)
2007-11-20	AROW	Arrow Financial Corp	Option Exercise	6,399	15.39	98,480
2007-11-20	AROW	Arrow Financial Corp	Sale	100	21.52	2,152
2006-10-31	AROW	Arrow Financial Corp	Sale	250	25.29	6,322
2006-10-31	AROW	Arrow Financial Corp	Option Exercise	8,697	11.01	95,753

Insider trading activities including stock purchases, stock sales, and option exercises listed in the above table cannot be completely guaranteed as to their accuracy. For more information regarding the trades made by Bilodeau Gerard R (SVP & Corporate Secretary of Arrow Financial Corp at the time of this reporting) see the Securities and Exchange Commission (SEC) website.