Trades and Prices for Pension Obligation Bonds: 01/23/2008

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: 01/23/2008.

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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)
AUGUSTA ME PENSION	5.250%	10/01/2017	99.000 / 99.000				1	25
BRICK TWP N J REF-TAXABLE-PENSION	4.800%	11/15/2011			100.392 / 100.392	4.68% / 4.68%	1	10
BRICK TWP N J REF-TAXABLE-PENSION	5.350%	11/15/2016			101.634 / 101.634	5.02% / 5.02%	2	100
BRICK TWP N J REF-TAXABLE-PENSION	5.450%	11/15/2017			103.085 / 103.085	4.83% / 4.83%	3	60
DENVER COLO CITY & CNTY SCH DIST NO 001 CTFS PARTN TAXABLE-PENSION-SCH FACS LEASE	6.860%	12/15/2010	106.608 / 106.608				1	40
FRESNO CNTY CALIF PENSION OBLIG TAXABLE-SER A	3.450%	08/15/2010			100.251 / 100.818	3.35% / 3.11%	6	1150
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER A	0.000%	10/01/2020			50.526 / 50.526	5.46% / 5.46%	2	120
HUNTINGTON PK CALIF PENSION OBLIG REF-TAXABLE-A-CONV 04/05/07	5.757%	08/01/2025			102.900 / 103.931	5.36% / 5.23%	4	105
ILLINOIS ST TAXABLE-PENSION	5.100%	06/01/2033			102.242 / 103.196	4.94% / 4.88%	6	+6
ILLINOIS ST TAXABLE-PENSION-MBIA IBC	5.100%	06/01/2033	101.949 / 101.949				1	+1
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2019			52.732 / 53.625	5.62% / 5.47%	4	325
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2020	48.000 / 48.000		50.574 / 50.574	5.51% / 5.51%	4	170
KOKOMO CENTER TWP IND CONS SCH CORP TAXABLE-PENSION	5.500%	01/05/2011	102.200 / 102.200				1	100
LAKEWOOD TWP N J REF-TAXABLE-PENSION	5.650%	04/01/2016			103.089 / 103.089	4.96% / 4.96%	2	60
LAKEWOOD TWP N J REF-TAXABLE-PENSION	5.850%	04/01/2018			103.086 / 103.479	5.16% / 5.08%	4	70
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2008	97.950 / 98.097		98.339 / 98.584	4.00% / 3.40%	7	640
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2009	93.700 / 93.700		94.200 / 94.522	4.25% / 4.00%	4	220
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER D	0.000%	06/30/2010	88.800 / 89.815		90.476 / 90.476	4.17% / 4.17%	4	80
MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV SCHEPENS EYE RESEARCH-SER A	6.500%	07/01/2028			103.000 / 103.000	5.72% / 5.72%	3	75
MINNEAPOLIS MINN SPL SCH DIST NO 001 TAXABLE-PENSION-SER B	5.375%	02/01/2010	102.675 / 102.675				1	100
MULTNOMAH CNTY ORE TAXABLE-PENSION OBLIG	7.150%	06/01/2009	102.500 / 102.500		104.067 / 104.067	4.00% / 4.00%	4	160
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2014			76.298 / 76.398	4.52% / 4.50%	4	90
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2016			65.408 / 66.385	5.35% / 5.16%	8	105
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2023			45.419 / 45.419	5.31% / 5.31%	3	240
NEW ORLEANS LA PENSION REV VAR-TAXABLE	%	09/01/2030	100.000 / 100.000				1	+1
NEWARK N J CAP APPREC-REF-TAXABLE-PENSION	0.000%	04/01/2024	37.369 / 37.369		39.125 / 39.125	5.89% / 5.89%	3	375
NORTH MIAMI FLA SPL OBLIG TAXABLE-REF-PENSION FUNDING PJ	%	07/01/2032	100.000 / 100.000				1	+1
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2012	80.439 / 80.439				1	25
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2013	76.182 / 76.182				1	25
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2021			46.220 / 46.220	5.64% / 5.64%	1	10
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2010			90.084 / 90.084	4.07% / 4.07%	1	30
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2011			86.464 / 86.464	4.09% / 4.09%	1	60
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2012	78.014 / 78.014				1	10
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021	96.060 / 97.060		99.060 / 99.060	5.60% / 5.60%	3	40
OREGON ST TAXABLE-PENSION	5.892%	06/01/2027			106.321 / 106.321	5.36% / 5.36%	1	15
PENSACOLA FLA ARPT REV REF-AMT-SER A	6.125%	10/01/2018	101.591 / 101.591				2	50
PENSACOLA FLA ARPT REV REF-SER A	4.250%	10/01/2024			96.048 / 96.950	4.59% / 4.51%	5	175
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014			76.421 / 76.421	4.38% / 4.38%	2	50
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2015			70.538 / 70.538	4.90% / 4.90%	1	3
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2018			58.746 / 58.746	5.28% / 5.28%	3	60
PORTLAND ORE PARS-TAXABLE-PENSION OBLIG-E	%	06/01/2019	100.000 / 100.000		100.000 / 100.000		17	2000+3
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2011	82.596 / 82.596				1	10
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2013			77.349 / 77.349	4.68% / 4.68%	1	10
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2014			72.978 / 72.978	4.87% / 4.87%	3	15
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-C-RMK-7/1/98	%	07/01/2022	100.000 / 100.000		100.000 / 100.000	3.70% / 3.70%	4	920
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV	6.870%	08/01/2008	101.475 / 101.475				1	1000
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2015	67.015 / 67.015		67.716 / 67.716	5.26% / 5.26%	2	20
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2017	56.250 / 59.628		60.000 / 60.000	5.45% / 5.45%	5	110
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-1	%	08/01/2023	100.000 / 100.000		100.000 / 100.000		5	1150+1
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-3	%	08/01/2023	100.000 / 100.000		100.000 / 100.000		18	4950+2
SAN DIEGO CALIF MET TRAN DEV BRD VAR-TAXABLE PENSION OBLIG-B	%	12/01/2033	100.000 / 100.000		100.000 / 100.000		5	940+1
SAN DIEGO CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	08/15/2010			91.366 / 91.366	3.58% / 3.58%	2	60
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2030	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	41	10500+8
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	325
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2030	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	7	475
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2032	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	10	1100
SOLANO CNTY CALIF PENSION FDG TAXABLE-SER A	5.260%	01/15/2012	103.625 / 103.625				1	75
SYRACUSE N Y TAXABLE-PENSION OBLIG-SER G	4.250%	10/15/2010			100.600 / 100.600	4.01% / 4.01%	1	10
WORCESTER MASS PENSION FDG LN	5.700%	01/01/2009			101.726 / 101.726	3.78% / 3.78%	1	5
YOUNGSTOWN OHIO REF-PENSION	4.250%	12/01/2026	101.675 / 101.675		102.591 / 102.591	3.90% / 3.90%	4	800

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: