Trades and Prices for North Dakota: 02/22/2008

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: 02/22/2008.

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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 INDL DEV REV VAR-REF-SUPERVALU INC PROJ	%	04/01/2009	100.000 / 100.000				3	600
FARGO N D HEALTH SYS REV MERITCARE OBLIGATED GROUP-A	5.375%	06/01/2027	98.811 / 100.000				5	65
FARGO N D INDL DEV REV REF	6.200%	09/01/2008	100.500 / 100.500				1	85
FARGO N D LEASE REV N D ST UNIV LEASE OBLIG-SER A	3.750%	05/01/2010	100.450 / 100.450		101.566 / 101.566	3.00% / 3.00%	2	80
FARGO N D MUN ARPT AUTH ARPT RESV REV AMT-SER A	4.000%	09/01/2013			103.210 / 103.210	3.36% / 3.36%	1	15
GRAND FORKS N D HEALTH CARE SYS REV ARS-ALTRU HEALTH SYS OBLIG	%	12/01/2026			100.000 / 100.000	0.00% / 0.00%	5	475
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	200
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		38	7200+5
MERCER CNTY N D POLLUTN CTL REV REF-NORTHWESTERN PUB SVC CO PJ	5.850%	06/01/2023			102.850 / 102.850	-6.99% / -6.99%	1	10
MERCER CNTY N D POLLUTN CTL REV REF-OTTER TAIL CORP PROJ	4.850%	09/01/2022	95.500 / 95.750				5	55
NORTH DAKOTA ST BLDG AUTH LEASE REV REF-SER A	4.000%	12/01/2011	103.559 / 103.559				1	25
NORTH DAKOTA ST BLDG AUTH LEASE REV REF-SER B	4.125%	12/01/2020			97.440 / 97.440	4.39% / 4.39%	1	10
NORTH DAKOTA ST BRD HIGHER ED REV HSG & AUX FACS-N D ST UNIV	5.000%	04/01/2034			99.845 / 99.995	5.01% / 5.00%	56	1280
NORTH DAKOTA ST HSG FIN AGY REV HSG FIN PG-HOME MTG FIN-SER E	5.250%	01/01/2030	96.436 / 96.436				1	10
NORTH DAKOTA ST HSG FIN AGY REV VAR-HSG FIN PG-HOME MTG-SER B	%	01/01/2034	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	2	+2
NORTH DAKOTA ST STUDENT LN REV SER D	6.350%	07/01/2013	99.713 / 99.713				2	50
NORTH DAKOTA ST UNIV REV HSG & AUX FACS-WELLNESS CTR-A	4.250%	04/01/2018	98.100 / 98.100		100.000 / 100.000	4.25% / 4.25%	3	50
SOUTHEAST CASS WTR RESOURCE DIST N D REF & IMPT	2.300%	05/01/2010			100.000 / 100.000	2.30% / 2.30%	2	300
SOUTHEAST CASS WTR RESOURCE DIST N D REF & IMPT	2.500%	05/01/2011			100.000 / 100.000	2.50% / 2.50%	1	285
SOUTHEAST CASS WTR RESOURCE DIST N D REF & IMPT	2.650%	05/01/2012			100.000 / 100.000	2.65% / 2.65%	1	280
SOUTHEAST CASS WTR RESOURCE DIST N D REF & IMPT	2.800%	05/01/2013			100.000 / 100.000	2.80% / 2.80%	1	270
SOUTHEAST CASS WTR RESOURCE DIST N D REF & IMPT	2.950%	05/01/2014			100.000 / 100.000	2.95% / 2.95%	1	260
SOUTHEAST CASS WTR RESOURCE DIST N D REF & IMPT	3.125%	05/01/2015			100.000 / 100.000	3.12% / 3.12%	1	250
SOUTHEAST CASS WTR RESOURCE DIST N D REF & IMPT	3.200%	05/01/2016			100.000 / 100.000	3.20% / 3.20%	1	245
SOUTHEAST CASS WTR RESOURCE DIST N D REF & IMPT	3.500%	05/01/2018			100.000 / 100.000	3.50% / 3.50%	1	135
WEST FARGO N D PK DIST BLDG AUTH LEASE REV	5.400%	05/01/2017	100.200 / 100.200				1	50

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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