Trades and Prices for North Dakota: 02/25/2008

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: 02/25/2008.

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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 HEALTH SYS REV MERITCARE OBLIGATED-SER A	4.000%	06/01/2009			101.968 / 101.968	2.40% / 2.40%	2	20
FARGO N D LEASE REV REF-N D ST UNIV-SER A	4.000%	05/01/2020			100.000 / 100.000	4.00% / 4.00%	1	25
FARGO N D MUN ARPT AUTH ARPT RESV REV AMT-SER A	4.000%	09/01/2013			102.534 / 102.534	3.49% / 3.49%	1	50
GRAND FORKS N D HEALTH CARE FACS REV VAR-THE UTD HOSP OBLIG GRP-A	%	12/01/2025			100.000 / 100.000	0.00% / 0.00%	1	100
GRAND FORKS N D HEALTH CARE SYS REV ARS-ALTRU HEALTH SYS OBLIG	%	12/01/2026	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	12	1200+2
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		4	300
MINOT N D HWY-SER B	3.750%	10/01/2011			103.753 / 103.753	2.65% / 2.65%	1	10
NORTH DAKOTA DEPT TRANS REV GRANT & REV ANTIC BDS	3.250%	06/01/2010			100.975 / 100.975	2.80% / 2.80%	3	300
NORTH DAKOTA ST HSG FIN AGY REV VAR-HSG FIN PG-HOME MTG-SER B	%	07/01/2034	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	2	+2
WEST FARGO N D PK DIST BLDG AUTH LEASE REV	5.400%	05/01/2017			100.505 / 100.505	2.50% / 2.50%	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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