Trades and Prices for Pension Obligation Bonds: 01/17/2008

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: 01/17/2008.

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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)
ALAMEDA CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER B	0.000%	12/01/2008	95.300 / 95.300		95.900 / 95.900	4.95% / 4.95%	2	30
ALAMEDA CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER B	0.000%	12/01/2017	57.081 / 57.081				2	90
ALAMEDA CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER B	0.000%	12/01/2018	53.988 / 53.988				1	45
CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV TAXABLE-PENSION OBLIG-SER A-1	5.210%	06/01/2008			100.325 / 100.325	4.25% / 4.25%	1	225
CINCINNATI OHIO REF-POLICE & FIRE PENSION-C	4.500%	12/01/2030			103.154 / 103.154	4.00% / 4.00%	2	200
FRESNO CNTY CALIF PENSION OBLIG REF-TAXABLE	6.060%	08/15/2009	102.580 / 102.580				1	400
FRESNO CNTY CALIF PENSION OBLIG TAXABLE-SER A	3.450%	08/15/2010	97.884 / 97.884				4	1540
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER A	0.000%	10/01/2017	57.846 / 57.846				2	30
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER B	0.000%	10/01/2013	76.307 / 76.307				2	40
KERN CNTY CALIF PENSION OBLIG ARCS-REF-TAXABLE-SER B-1	%	08/15/2027	100.000 / 100.000		100.000 / 100.000		18	1900+4
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2019	51.113 / 51.113				2	500
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2020			49.665 / 49.665	5.65% / 5.65%	2	150
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2021			43.500 / 43.500	6.23% / 6.23%	1	100
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER D	0.000%	06/30/2010			91.302 / 91.302	3.77% / 3.77%	3	150
MINNEAPOLIS MINN TAXABLE-PENSION MERF	4.850%	12/01/2023	92.730 / 92.730				1	5
MULTNOMAH CNTY ORE TAXABLE-PENSION OBLIG	7.300%	06/01/2012			111.100 / 111.100	4.46% / 4.46%	1	10
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2012	81.625 / 82.735				5	455
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2014	73.831 / 73.831				2	160
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2016	64.750 / 64.750				2	50
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2015	64.626 / 64.626				1	5
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2022			39.000 / 39.000	6.42% / 6.42%	1	65
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2010	87.420 / 87.420		88.319 / 88.319	4.83% / 4.83%	2	31
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2011	83.550 / 83.550				3	375
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2012	80.400 / 80.400				2	40
PALM BAY FLA SPL OBLIG TAXABLE-PENSION FDG PROJ	5.550%	10/01/2031			95.420 / 95.420	5.91% / 5.91%	1	5
PALM BAY FLA SPL OBLIG VAR-TAXABLE-PENSION FDG PROJ	%	10/01/2037			100.000 / 100.000		4	2000+2
PENSACOLA FLA SALES & EXCISE TAX REV REF	3.500%	10/01/2010	100.279 / 100.279				2	20
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014	72.740 / 72.980		73.523 / 74.167	5.00% / 4.86%	15	2170
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2015	67.880 / 67.880				2	250
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2016	63.896 / 63.896				2	450
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2017			60.625 / 60.625	5.50% / 5.50%	2	50
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2018	55.842 / 55.842		57.125 / 57.125	5.55% / 5.55%	3	150
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2024	36.987 / 36.987		38.350 / 38.350	5.99% / 5.99%	2	80
PORTLAND ME TAXABLE-PENSION BDS	%	06/01/2026	100.000 / 100.000				1	300
PORTLAND ORE PARS-TAXABLE-PENSION OBLIG-E	%	06/01/2019	100.000 / 100.000				2	50
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2010			90.363 / 90.363	4.00% / 4.00%	2	60
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-C-RMK-7/1/98	%	07/01/2022	100.000 / 100.000		100.000 / 100.000	4.40% / 4.40%	2	120
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2018	55.001 / 55.001				1	25
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-1	%	08/01/2023	100.000 / 100.000		100.000 / 100.000	0.03% / 0.03%	5	250+3
SAN DIEGO CALIF MET TRAN DEV BRD VAR-TAXABLE PENSION OBLIG-B	%	12/01/2033	100.000 / 100.000		100.000 / 100.000		4	400
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2030	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	6	200
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2030	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	4	200
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2030	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	9	350
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2032	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	7	275
SHIPPENSBURG BORO PA AUTH REV VAR-BETHLEHEM AREA SCH DIST PJ	%	07/01/2031	100.000 / 100.000				1	100
SHIPPENSBURG PA AREA SCH DIST	4.000%	11/15/2017			102.741 / 102.741	3.12% / 3.12%	2	50
SHIPPENSBURG PA AREA SCH DIST SER A	3.700%	11/15/2008			100.051 / 100.051	2.50% / 2.50%	1	50
SYRACUSE N Y TAXABLE-PENSION OBLIG-SER G	4.000%	10/15/2009	98.470 / 98.470				1	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.

Data provided by: