Trades and Prices for Pension Obligation Bonds: 03/03/2008

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: 03/03/2008.

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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)
BRIDGEPORT CONN TAXABLE PENSION BDS	7.530%	01/15/2011			109.708 / 109.737	3.90% / 3.90%	5	490
CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV TAXABLE-PENSION OBLIG-SER A-1	5.060%	06/01/2009	99.975 / 99.975				1	250
EDISON TWP N J REF-TAXABLE-PENSION	4.200%	03/15/2011	97.840 / 97.840		98.878 / 98.878	4.60% / 4.60%	2	30
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL-SR PENSION FDG-SER A	6.150%	07/01/2038	100.000 / 100.000		100.000 / 100.000	6.15% / 6.15%	6	685
ILLINOIS ST TAXABLE-PENSION	2.800%	06/01/2009			98.859 / 98.859	3.75% / 3.75%	1	50
ILLINOIS ST TAXABLE-PENSION	4.950%	06/01/2023			99.600 / 99.600	4.99% / 4.99%	3	75
JOSEPHINE CNTY ORE PENSION OBLIG REV SER B	6.250%	06/01/2024			102.500 / 102.500	5.39% / 5.39%	2	30
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2008	98.191 / 98.191		98.691 / 98.691	4.19% / 4.19%	2	40
LOS ANGELES CNTY CALIF PENSION OBLIG CTFS LTD INT MUN OBLIG-A-MBIA-IBC	6.900%	06/30/2008			101.242 / 101.242	2.90% / 2.90%	2	120
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2018			59.298 / 59.298	5.33% / 5.33%	3	30
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2019	51.441 / 51.441				3	75
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2015			68.906 / 68.906	5.04% / 5.04%	1	1
OREGON SCH BRDS ASSN TAXABLE-PENSION DEFD INT-SER A	0.000%	06/30/2018	55.130 / 55.130		57.134 / 57.134	5.50% / 5.50%	4	60
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021			96.125 / 98.125	5.92% / 5.70%	2	15
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.450%	06/30/2024			97.690 / 97.690	5.67% / 5.67%	1	5
OREGON ST TAXABLE-PENSION-MBIA IBC	4.375%	06/01/2010	99.250 / 99.250				1	100
OREGON ST LOC GOVTS LTD TAX-PENSION OBLIG-SER B	6.600%	06/01/2025	97.375 / 97.375		99.875 / 100.375	6.61% / 1.38%	5	25
PENSACOLA FLA GAS REV	4.950%	12/01/2010			103.370 / 103.370	2.94% / 2.94%	2	20
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG RETIREMENT SYS-SER A	5.790%	04/15/2009			101.808 / 101.808	4.10% / 4.10%	1	400
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG RETIREMENT SYS-SER A	5.890%	04/15/2011			104.883 / 104.883	4.20% / 4.20%	3	15
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2018			55.420 / 55.589	5.92% / 5.89%	3	335
PORTLAND ME TAXABLE-PENSION BDS	%	06/01/2026	100.000 / 100.000		100.000 / 100.000		4	300+1
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-B-RMK-7/1/98	%	07/01/2020	100.000 / 100.000		100.000 / 100.000		4	2400+1
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-C-RMK-7/1/98	%	07/01/2022	100.000 / 100.000				1	+1
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2015			68.142 / 68.142	5.25% / 5.25%	1	500
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2018	51.408 / 51.408				2	100
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-1	%	08/01/2023	100.000 / 100.000		100.000 / 100.000		4	+4
SAN DIEGO CALIF MET TRAN DEV BRD VAR-TAXABLE PENSION OBLIG-B	%	12/01/2033	100.000 / 100.000				3	700
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2032	100.000 / 100.000		100.000 / 100.000		4	100+3
SAN LUIS OBISPO CNTY CALIF PENSION OBLIG TAXABLE-SER A	4.200%	09/01/2014			97.619 / 97.619	4.63% / 4.63%	1	15
SCRANTON PA TAXABLE-PENSION FDG-SER C	5.600%	09/01/2033	90.585 / 90.585		93.500 / 93.500	6.11% / 6.11%	2	30

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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