Stock Trading History of Whitebox Diversified Convertible Arbitrage Advisor

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 Whitebox Diversified Convertible Arbitrage Advisor since year 2005. The trader's CIK number is 1317591. At the time of this reporting, Whitebox Diversified Convertible Arbitrage Advisor is the 10% Owner of Penn Treaty American Corp (stock ticker symbol PTA).

Stock purchases, sales, and option exercises reported by *Whitebox Diversified Convertible Arbitrage Advisor* since 2005.
Trade Date	Symbol	Company Name (Issuer)	Trade Type	Shares	Price ($)	Value ($)
2005-07-13	PTA	Penn Treaty American Corp	Sale	19,000	10.48	199,139
2005-07-14	PTA	Penn Treaty American Corp	Sale	400	9.88	3,952

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 Whitebox Diversified Convertible Arbitrage Advisor (10% Owner of Penn Treaty American Corp at the time of this reporting) see the Securities and Exchange Commission (SEC) website.