Estate of Georgina T. Gimbel, Deceased, Janet G. Rogers, JoAnne M. Gimbel, and Thomas W. Gimbel, Co-Executors and Co-Trustees - Page 28

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                           Court’s Fair Market Valuation of                           
           Estate’s 3,601,267 Reliance Shares                                         
                                   Valuation Date               Discounted            
            Valuation   Number of  Trading Value                Valuation             
           Method       Shares     of Shares          Discount  Date Value            
           Repurchase   720,253   $14,990,266         13.9%     $12,906,618           
           Dribble Out 2,881,014    59,961,104         14.4%    51,414,274            
           Total        3,601,267   $74,951,370       14.2%     $64,320,892           





               To reflect the foregoing,                                              
                                                  Decision will be entered            
                                             under Rule 155.                          


























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Last modified: May 25, 2011