Trades and Prices for Pension Obligation Bonds: 02/14/2008

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: 02/14/2008.

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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)
BURLINGAME CALIF PENSION OBLIG TAXABLE-SER A	5.235%	06/01/2011					1	400
CINCINNATI OHIO REF-POLICE & FIRE PENSION-C	4.500%	12/01/2020			105.000 / 105.000	3.71% / 3.71%	4	50
EL PASO TEX TAXABLE-PENSION	5.770%	08/15/2014	107.522 / 107.522				1	125
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO CAP APPREC-RETAIL-SR PENSION-A	0.000%	07/01/2028			28.988 / 29.988	6.15% / 6.00%	2	90
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL SR PENSION FDG-SER A	5.850%	07/01/2023			100.000 / 100.000	5.85% / 5.85%	3	130
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL-SR PENSION FDG-SER A	6.150%	07/01/2038			100.000 / 100.000	6.15% / 6.15%	5	705
FRESNO CALIF TAXABLE-REF-PENSION OBLIGS	6.550%	06/01/2029			114.005 / 114.005	5.43% / 5.43%	1	110
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER A	0.000%	10/01/2010	89.993 / 89.993				2	100
HUNTINGTON PK CALIF PENSION OBLIG REF-TAXABLE-A-CONV 04/05/07	5.757%	08/01/2025			99.496 / 100.198	5.80% / 5.73%	3	95
ILLINOIS ST TAXABLE-PENSION	4.950%	06/01/2023					2	+2
ILLINOIS ST TAXABLE-PENSION	5.100%	06/01/2033	88.735 / 88.735		95.713 / 95.713	5.41% / 5.41%	4	45+1
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2008	98.603 / 98.603		98.675 / 98.675	3.72% / 3.72%	4	430
LOS ANGELES CNTY CALIF PENSION OBLIG TAXABLE-SER D	6.970%	06/30/2008	101.020 / 101.020				2	630
NEW ALBANY FLOYD CNTY IND CONS SCH CORP TAXABLE-PENSION	4.000%	07/15/2009			100.490 / 100.490	3.64% / 3.64%	3	75
NEW ORLEANS LA PENSION REV VAR-TAXABLE	%	09/01/2030	100.000 / 100.000				1	100
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2022					2	40
OREGON ST LOC GOVTS ZERO CPN-LTD TAX-PENSION OB-A	0.000%	06/01/2012			83.340 / 83.340	4.30% / 4.30%	3	135
PENSACOLA FLA SALES & EXCISE TAX REV REF	4.000%	10/01/2012	101.903 / 101.903				1	35
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014	72.398 / 72.398		74.668 / 74.891	4.80% / 4.75%	4	229
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2019			51.550 / 51.652	6.03% / 6.01%	4	40
PORTLAND ME TAXABLE-PENSION BDS	%	06/01/2026	100.000 / 100.000				11	2300
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-B-RMK-7/1/98	%	07/01/2020	100.000 / 100.000				2	200
SACRAMENTO CNTY CALIF PENSION FDG CARS-TAXABLE-SER C-1	%	07/10/2030	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	2	+2
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-1	%	08/01/2023	100.000 / 100.000		100.000 / 100.000		22	5850
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-2	%	08/01/2023			100.000 / 100.000	0.00% / 0.00%	1	700
SAN DIEGO CALIF MET TRAN DEV BRD VAR-TAXABLE PENSION OBLIG-B	%	12/01/2033	100.000 / 100.000		100.000 / 100.000		14	1665
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2030	100.000 / 100.000		100.000 / 100.000		3	150

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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