Trades and Prices for North Dakota: 02/20/2008

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: 02/20/2008.

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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)
BISMARCK N D REF IMPT-SER U	4.000%	05/01/2010	101.520 / 101.520				3	75
FARGO N D REF IMPT-SER A	4.250%	05/01/2019			101.542 / 101.542	4.00% / 4.00%	1	50
FARGO N D COML DEV REV REF-KELLY INNS FARGO PROJ	%	11/01/2015	100.000 / 100.000				1	225
FARGO N D INDL DEV REV VAR-OWEN INDS INC	%	02/01/2009	100.000 / 100.000				1	300
FARGO N D LEASE REV N D ST UNIV LEASE OBLIG-SER A	3.750%	05/01/2010	99.542 / 99.542				4	160
FARGO N D LEASE REV REF-N D ST UNIV-SER B	4.250%	05/01/2029			94.796 / 94.796	4.64% / 4.64%	1	25
FARGO N D PUB SCH DIST NO 1 LTD TAX-SCH BLDG	4.000%	05/01/2015			104.297 / 104.297	3.32% / 3.32%	3	115
FARGO N D PUB SCH DIST NO 1 SER B	5.000%	05/01/2015			105.580 / 105.580	3.97% / 3.97%	1	15
GRAND FORKS CNTY N D BLDG AUTH LEASE REV FIRST MTG CNTY CORRECTIONAL	5.000%	12/01/2025	96.350 / 96.350				3	60
GRAND FORKS N D HOSP FACS REV VAR-UNITED HOSP OBLIG GROUP PJ	%	12/01/2016	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	2	1340
GRAND FORKS N D SALES TAX REV REF-ALERUS PROJ-SER A	5.000%	12/15/2024			103.580 / 103.580	4.45% / 4.45%	1	15
HEBRON N D INDL DEV REV VAR-DACCO INC PROJ	%	03/01/2015	100.000 / 100.000				1	290
MANDAN N D REF & IMPT-SER D	4.000%	05/01/2016			103.888 / 103.888	3.45% / 3.45%	1	20
MANDAN N D PUB SCH DIST NO 1 SCH BLDG	4.250%	05/01/2019			103.430 / 104.625	3.70% / 3.52%	2	145
NORTH DAKOTA ST HSG FIN AGY REV VAR-HSG FIN PG-HOME MTG FIN-A	%	01/01/2036			100.000 / 100.000	0.00% / 0.00%	1	+1
NORTH DAKOTA ST WTR COMMN REV REF-WTR DEV-SOUTHWEST PJ-SER B	4.500%	07/01/2017			104.080 / 104.080	3.97% / 3.97%	1	25
TRAILL CNTY NORTH DAKOTA HEALTH CARE REV HILLSBORO MED CTR	5.500%	05/01/2042			96.996 / 96.996	5.70% / 5.70%	1	10
WEST FARGO N D REF-IMPT-SER C	4.000%	05/01/2010			103.565 / 103.565	2.31% / 2.31%	1	75
WEST FARGO N D SIDEWALK WTS	4.000%	05/01/2018			102.347 / 102.347	3.50% / 3.50%	2	60

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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