X0306 4 2014-11-14 0000878520 SWS GROUP INC SWS 0000911380 CRANDALL J TAYLOR 1201 ELM STREET SUITE 3500 DALLAS TX 75270 1 Common Stock $.10 Par Value 2014-11-14 4 J 0 5963.0000 0.0000 D 0.0000 D Mr. Crandall is a Managing Partner of Oak Hill Capital Management, LLC ("OHCM"). Pursuant to the policies of OHCM and its affiliates and the investment funds it advises, since the date of grant, the Reporting Person held the reported securities for the benefit of OHCM and, upon the vesting of the reported securities, assigned all economic, pecuniary and voting rights to OHCM for no consideration. OHCM has separately reported beneficial ownership of such securities. The Reporting Person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any securities covered by this statement. The Reporting Person disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securites. Allen R. Tubb, Power of Attorney 2014-11-17