SPINOZZI MICHAEL G

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	Company	B/S Transaction type	Nb. shares Price Value	Number of shares	Price	Value
2004-07-08	2004-07-07	Borders Group Inc (BGPIQ)	S Sale	66,131 +41.5% 146.54 US$2,655,837	66,131 +41.5%	146.54	US$2,655,837
2004-07-08	2004-07-07	Borders Group Inc (BGPIQ)	S Sale	9,401 -40.9% 19.71 US$4,852,540	9,401 -40.9%	19.71	US$4,852,540
2004-05-26	2004-05-25	Borders Group Inc (BGPIQ)	S Sale	61,497 +49.4% 60.97 US$883,340	61,497 +49.4%	60.97	US$883,340