Trades and Prices for Pension Obligation Bonds: 01/22/2008

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: 01/22/2008.

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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)
ALAMEDA CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER B	0.000%	12/01/2011	80.900 / 80.900		83.465 / 83.465	4.75% / 4.75%	6	125
ALAMEDA CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER B	0.000%	12/01/2018			55.446 / 55.728	5.51% / 5.46%	2	45
BRICK TWP N J REF-TAXABLE-PENSION	4.800%	11/15/2011	99.188 / 99.188				1	10
BRICK TWP N J REF-TAXABLE-PENSION	5.350%	11/15/2016	98.465 / 99.149				4	100
BRICK TWP N J REF-TAXABLE-PENSION	5.450%	11/15/2017	99.496 / 99.496				2	40
CARTERET N J SCH DIST REF-TAXABLE-PENSION	5.100%	03/15/2015			99.592 / 99.592	5.17% / 5.17%	2	100
FRESNO CNTY CALIF PENSION OBLIG REF-TAXABLE	6.060%	08/15/2009	101.906 / 101.906		104.030 / 104.030	3.38% / 3.38%	4	120
FRESNO CNTY CALIF PENSION OBLIG TAXABLE-SER A	4.048%	08/15/2012	97.500 / 97.500		98.356 / 98.356	4.45% / 4.45%	2	50
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER A	0.000%	10/01/2017			59.692 / 59.692	5.40% / 5.40%	4	30
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER A	0.000%	10/01/2020	45.041 / 45.041				2	120
HUNTINGTON PK CALIF PENSION OBLIG REF-TAXABLE-A-CONV 04/05/07	5.757%	08/01/2025			101.448 / 102.898	5.56% / 5.36%	6	185
ILLINOIS ST TAXABLE-PENSION	4.950%	06/01/2023	99.262 / 99.262		99.462 / 99.462	5.00% / 5.00%	2	1140
ILLINOIS ST TAXABLE-PENSION	5.100%	06/01/2033	100.383 / 100.383				1	+1
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2019	50.500 / 50.500		51.992 / 53.350	5.74% / 5.51%	11	1650
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2020			50.620 / 50.620	5.50% / 5.50%	3	900
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2021			47.741 / 47.741	5.53% / 5.53%	3	1200
KERN CNTY CALIF PENSION OBLIG REF-TAXABLE-SER A	4.500%	08/15/2016			96.551 / 96.551	5.00% / 5.00%	3	150
KNOX CNTY TENN TAXABLE-PENSION-SER A	6.375%	05/01/2011			100.610 / 100.610	4.00% / 4.00%	1	25
LAKEWOOD TWP N J REF-TAXABLE-PENSION	5.650%	04/01/2016	100.383 / 100.383				2	60
LAKEWOOD TWP N J REF-TAXABLE-PENSION	5.850%	04/01/2018	101.050 / 101.050				2	70
LONG BEACH CALIF PENSION OBLIG REF-TAXABLE-B-RMKT 12/30/2005	5.110%	09/01/2015	102.059 / 102.059				1	15
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2008	98.006 / 98.006		97.874 / 97.874	5.04% / 5.04%	2	39
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER D	0.000%	06/30/2010	87.400 / 89.558		89.535 / 91.365	4.60% / 3.75%	18	310
LOS ANGELES CNTY CALIF PENSION OBLIG CTFS LTD INT MUN OBLIG CTF-SER A	6.900%	06/30/2008			101.727 / 101.727	2.83% / 2.83%	3	150
MIAMI FLA REV VAR-REF-TAXABLE-PENSION	%	12/01/2025	100.000 / 100.000				1	95
MINNEAPOLIS MINN TAXABLE-PENSION MERF	4.850%	12/01/2023	94.375 / 94.375		95.725 / 95.725	5.25% / 5.25%	4	400
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2016	63.508 / 63.839				3	135
NEW ORLEANS LA PENSION REV VAR-TAXABLE	%	09/01/2030	100.000 / 100.000				2	+2
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2011	82.151 / 82.151		83.313 / 83.313	4.75% / 4.75%	3	105
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2021	44.148 / 44.148				1	10
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2012			83.344 / 83.344	4.00% / 4.00%	2	82
OREGON SCH BRDS ASSN TAXABLE-PENSION DEFD INT-SER A	0.000%	06/30/2012			82.899 / 82.899	4.28% / 4.28%	2	20
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER A	4.256%	06/30/2011			100.810 / 100.810	4.00% / 4.00%	1	35
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER A	4.358%	06/30/2013	99.200 / 99.200		100.525 / 100.525	4.25% / 4.25%	4	150
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021	97.060 / 97.060		98.560 / 99.250	5.65% / 5.58%	11	185
OREGON ST TAXABLE-PENSION	5.892%	06/01/2027	109.929 / 109.929		110.707 / 110.707	5.02% / 5.02%	2	+2
OREGON ST LOC GOVTS LTD TAX-PENSION OBLIG-SER B	6.850%	06/01/2028	106.500 / 106.500		109.880 / 109.880	6.00% / 6.00%	2	20
OREGON ST LOC GOVTS ZERO CPN-LTD TAX-PENSION OB-A	0.000%	06/01/2012	81.095 / 81.095				1	25
PENSACOLA FLA ARPT REV AMT-SER B	5.625%	10/01/2014	100.260 / 100.260				3	75
PENSACOLA FLA ARPT REV REF-SER A	4.250%	10/01/2024	93.960 / 93.960				2	150
PENSACOLA FLA ARPT REV REF-SER A	4.375%	10/01/2027	96.250 / 96.250		100.000 / 100.000	4.37% / 4.37%	2	40
PENSACOLA FLA SALES & EXCISE TAX REV REF	3.500%	10/01/2010			101.376 / 101.376	2.96% / 2.96%	3	30
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014	70.600 / 70.600				2	50
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2018	56.000 / 56.000		56.000 / 56.000	5.75% / 5.75%	2	40
PORTLAND ME TAXABLE-PENSION BDS	%	06/01/2026			100.000 / 100.000		2	300
PORTLAND ORE PARS-TAXABLE-PENSION OBLIG-E	%	06/01/2019	100.000 / 100.000		100.000 / 100.000		2	50
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2011	82.650 / 82.650		84.627 / 84.627	4.75% / 4.75%	5	125
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2013	74.850 / 74.850				1	10
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-B-RMK-7/1/98	%	07/01/2020	100.000 / 100.000		100.000 / 100.000	4.40% / 4.40%	3	600
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
SACRAMENTO CNTY CALIF PENSION FDG CARS-TAXABLE-SER C-1	%	07/10/2030			100.000 / 100.000	0.00% / 0.00%	5	1500+3
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV	6.940%	08/01/2009			103.400 / 103.400	4.59% / 4.59%	1	115
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2015	65.937 / 65.937				1	10
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2016	61.810 / 61.810				1	20
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2018	53.900 / 54.541		56.250 / 56.489	5.55% / 5.50%	8	285
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-1	%	08/01/2023	100.000 / 100.000				4	500
SAN DIEGO CALIF MET TRAN DEV BRD VAR-TAXABLE PENSION OBLIG-B	%	12/01/2033	100.000 / 100.000		100.000 / 100.000		6	1400
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2030	100.000 / 100.000		100.000 / 100.000		5	175
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2030	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	10	450
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2032	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	6	400
SCRANTON PA TAXABLE-PENSION FDG-SER C	5.500%	09/01/2023			98.944 / 98.944	5.60% / 5.60%	1	10
SOLANO CNTY CALIF PENSION FDG TAXABLE	4.990%	01/15/2010			100.045 / 100.725	4.96% / 4.60%	5	110
SYRACUSE N Y TAXABLE-PENSION OBLIG-SER G	4.250%	10/15/2010	99.225 / 99.225		100.600 / 100.600	4.01% / 4.01%	2	110
TULARE CNTY CALIF PENSION OBLIG TAXABLE	7.310%	08/15/2010	107.700 / 107.700				1	20
WORCESTER MASS PENSION FDG LN	5.700%	01/01/2009	97.840 / 97.840				4	20

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: