Trades and Prices for North Dakota: 01/04/2008

These reports represent inter-dealer and customer trades in municipal securities that have been reported by dealers to the Municipal Securities Rulemaking Board. The reports do not necessarily reflect all transactions that were effected on the specific trade date. Because of the possibility of errors in the trade submission process or errors or omissions in other processing of data, the reports should not be used as the sole basis for pricing or executing transactions in municipal securities. Prices for securities transactions vary with market conditions and can be affected by trade size and other factors.

All Information for Trade Date: 01/04/2008.

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The Red Flag indicates the bid/offer market spread for this Municipal Bond exceeded 4 points.
Red numbering in the Bid or Offer column indicates the spread between high and low price exceeded 1 point.
Red numbering in the Yield column indicates a negative yield.

Municipal Bond Name / Description	Coupon	Maturity	Bid Side Customer Sold to Dealer (Lowest / Highest)		Offer Side Customer Purchase from Dealer (Lowest / Highest)	Yield* Offer Side (Lo Px / Hi Px)	# of Trades	Volume (000)
FARGO N D REF IMPT-SER B	4.500%	05/01/2032			99.860 / 101.360	4.51% / 4.32%	4	70
FARGO N D HEALTH SYS REV MERITCARE OBLIGATED GROUP-A	5.375%	06/01/2027	100.207 / 100.207				2	10
GRAND FORKS N D REF & IMPT-SER B	3.500%	12/01/2011	98.500 / 98.500				2	10
GRAND FORKS N D SALES TAX REV REF-ALERUS PROJ-SER A	5.000%	12/15/2015	109.400 / 109.400				1	340
MANDAN N D REF-IMPT	4.500%	05/01/2015			105.035 / 105.035	3.60% / 3.60%	1	100
MERCER CNTY N D POLLUTN CTL REV PARS-REF-BASIN ELEC PWR COOP-A	%	09/01/2028	100.000 / 100.000		100.000 / 100.000		5	1250+1
MERCER CNTY N D POLLUTN CTL REV PARS-REF-BASIN ELEC PWR COOP-B	%	09/01/2038	100.000 / 100.000		100.000 / 100.000		13	2950+1
NORTH DAKOTA ST BLDG AUTH LEASE REV REF-SER C	4.000%	08/15/2009			101.955 / 101.955	2.74% / 2.74%	3	180
NORTH DAKOTA ST BLDG AUTH LEASE REV SER B	4.250%	12/01/2020	100.514 / 100.514				2	200
NORTH DAKOTA ST BRD HIGHER ED REV N D ST UNIV-HSG & AUX FACS	4.625%	04/01/2037			102.590 / 102.590	4.28% / 4.28%	1	5
NORTH DAKOTA ST BRD HIGHER ED REV UNIV N D-HSG & AUX FACS	5.000%	04/01/2035			104.088 / 104.088	4.40% / 4.40%	2	40
NORTH DAKOTA ST HSG FIN AGY REV HSG FIN PG-HOME MTG FIN-SER B	3.200%	07/01/2009			98.862 / 98.862	4.00% / 4.00%	1	10
NORTH DAKOTA ST HSG FIN AGY REV HSG FIN PG-HOME MTG FIN-SER E	5.250%	01/01/2030	98.000 / 98.000		100.000 / 100.000	5.25% / 5.25%	2	10
NORTH DAKOTA ST MUN BD BK CAP FING PROG-SER A	5.300%	06/01/2025	97.770 / 97.770				3	45
NORTH DAKOTA ST MUN BD BK ST REVOLVING FD PROG-SER A	4.700%	10/01/2015			104.510 / 104.510	3.40% / 3.40%	2	20
OLIVER CNTY N D POLLUTN CTL REV REF-SQUARE BUTTE ELEC COOP-A	5.300%	01/01/2027	102.037 / 102.037		103.923 / 103.923	3.22% / 3.22%	3	45
WEST FARGO N D REF & IMPT-SER E	4.150%	05/01/2018	98.200 / 98.200				2	10

These reports represent inter-dealer and customer trades in municipal securities that have been reported by dealers to the Municipal Securities Rulemaking Board. The reports do not necessarily reflect all transactions that were effected on the specific trade date. Because of the possibility of errors in the trade submission process or errors or omissions in other processing of data, the reports should not be used as the sole basis for pricing or executing transactions in municipal securities. Prices for securities transactions vary with market conditions and can be affected by trade size and other factors.

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