Trades and Prices for Pension Obligation Bonds: 03/13/2008

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: 03/13/2008.

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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)
BALTIMORE CNTY MD REF-PENSION FUNDING	5.125%	08/01/2013					1	30
BALTIMORE CNTY MD REF-PENSION FUNDING	5.125%	08/01/2014	101.295 / 101.295				1	25
DENVER COLO CITY & CNTY SCH DIST NO 001 CTFS PARTN UNREFUNDED BAL-TAXABLE-PENSION	6.790%	12/15/2008			102.405 / 102.411	3.47% / 3.46%	2	30
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL-SR PENSION FDG-SER A	6.150%	07/01/2038	98.433 / 99.875				3	260
HUNTINGTON PK CALIF PENSION OBLIG REF-TAXABLE-A-CONV 04/05/07	5.757%	08/01/2025	99.622 / 99.622		99.822 / 99.822	5.77% / 5.77%	2	100
ILLINOIS ST TAXABLE-PENSION	5.100%	06/01/2033	97.121 / 97.121				1	+1
LAKEWOOD TWP N J REF-TAXABLE-PENSION	5.400%	04/01/2013	103.876 / 103.876				2	20
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2008	98.200 / 98.200				2	20
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2009	94.799 / 94.799		94.848 / 94.914	4.16% / 4.10%	3	70
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER D	0.000%	06/30/2010			90.399 / 90.399	4.46% / 4.46%	1	10
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2018			59.030 / 59.030	5.39% / 5.39%	1	100
NEW ORLEANS LA PENSION REV VAR-TAXABLE	%	09/01/2030	100.000 / 100.000				2	400
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2014	70.736 / 70.736		72.211 / 72.211	4.89% / 4.89%	2	15
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2011	86.125 / 86.125		86.876 / 87.037	4.12% / 4.08%	3	200
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2013			76.668 / 76.668	4.93% / 4.93%	1	10
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021	96.125 / 96.125		98.700 / 100.000	5.64% / 5.50%	5	85
PENSACOLA FLA ARPT REV REF-AMT-SER A	6.125%	10/01/2018			105.125 / 105.125	0.25% / 0.25%	2	30
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014	72.711 / 72.711				1	40
PORTLAND ME TAXABLE-PENSION BDS	%	06/01/2026	100.000 / 100.000		100.000 / 100.000		2	+2
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	%	08/15/2013			78.168 / 78.168	4.61% / 4.61%	3	20
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-C-RMK-7/1/98	%	07/01/2022	100.000 / 100.000				1	50
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV	6.870%	08/01/2008	101.068 / 101.068				1	1000
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2018	54.273 / 54.273				3	120
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-1	%	08/01/2023	100.000 / 100.000		100.000 / 100.000		5	100+4
SAN DIEGO CALIF MET TRAN DEV BRD VAR-TAXABLE PENSION OBLIG-B	%	12/01/2033	100.000 / 100.000				2	400
SCRANTON PA TAXABLE-PENSION FDG-SER C	5.600%	09/01/2033	89.464 / 89.464				1	15
SHIPPENSBURG PA AREA SCH DIST	2.750%	11/01/2011			100.000 / 100.000	2.75% / 2.75%	2	180

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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