Trades and Prices for Pension Obligation Bonds: 03/19/2008

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: 03/19/2008.

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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%	12/01/2009			93.968 / 93.968	3.73% / 3.73%	1	+1
DUQUESNE PA TAXABLE-PENSION-SER B	5.000%	12/15/2013	98.477 / 98.477				3	90
EAST ORANGE N J REF-TAXABLE-PENSION	5.000%	04/01/2013			103.277 / 103.374	4.27% / 4.25%	2	90
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%	1	10
FRESNO CNTY CALIF PENSION OBLIG REF-TAXABLE	6.450%	08/15/2014	106.767 / 106.767				1	5
JOSEPHINE CNTY ORE PENSION OBLIG REV LTD TAX-SER A	0.000%	06/01/2015			70.326 / 70.326	4.96% / 4.96%	2	30
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2020	44.900 / 44.900				2	30
KERN CNTY CALIF PENSION OBLIG TAXABLE	7.260%	08/15/2014	101.900 / 101.900				4	120
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER D	0.000%	06/30/2010	86.722 / 89.272				4	30
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2009	94.590 / 94.590				2	10
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2018			59.092 / 59.092	5.39% / 5.39%	1	10
NEWARK N J REF-TAXABLE-PENSION	5.125%	04/01/2015	102.100 / 102.100				1	40
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2014	70.049 / 70.049				2	30
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2015			67.970 / 67.970	5.06% / 5.06%	1	5
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2011			86.319 / 86.319	4.33% / 4.33%	2	2
OREGON SCH BRDS ASSN TAXABLE-PENSION DEFD INT-SER A	%	06/30/2008	98.953 / 98.953				2	90
OREGON SCH BRDS ASSN TAXABLE-PENSION DEFD INT-SER A	%	06/30/2009			95.709 / 95.709	3.50% / 3.50%	1	10
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021	95.500 / 96.500		100.000 / 100.000	5.50% / 5.50%	4	30
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.450%	06/30/2024			97.000 / 97.000	5.74% / 5.74%	1	5
OREGON ST TAXABLE-PENSION	5.305%	06/01/2016	105.537 / 105.537		105.937 / 105.937	4.43% / 4.43%	2	30
OREGON ST LOC GOVTS LTD TAX-PENSION OBLIG-SER B	6.600%	06/01/2025	97.010 / 97.010		100.000 / 100.000	6.42% / 6.42%	4	20
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014	72.765 / 72.765				1	10
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2015	68.805 / 68.805				1	10
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2019			52.785 / 52.785	5.86% / 5.86%	2	100
PORTLAND ORE PARS-TAXABLE-PENSION OBLIG-E	%	06/01/2019	100.000 / 100.000		100.000 / 100.000		4	100
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2010	88.841 / 88.841				3	60
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2014	71.189 / 71.189				1	5
SACRAMENTO CNTY CALIF TAXABLE-PENSION FDG-SER A	6.875%	08/15/2008			101.334 / 101.334	3.37% / 3.37%	2	30
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2013	77.813 / 77.813				2	20
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2016			63.500 / 63.500	5.51% / 5.51%	1	15
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2017			58.125 / 58.125	5.89% / 5.89%	2	25
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-1	%	08/01/2023	100.000 / 100.000				3	175+2
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-3	%	08/01/2023	100.000 / 100.000		100.000 / 100.000		44	4350+9
SAN DIEGO CALIF MET TRAN DEV BRD TAXABLE PENSION OBLIG-SER A	4.270%	12/01/2011			100.911 / 100.911	4.00% / 4.00%	2	370
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2030	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	2	100
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2032	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	2	100
SANTA CLARA CNTY CALIF PENSION FDG TAXABLE	5.449%	08/01/2010	103.965 / 103.965		104.862 / 104.862	3.28% / 3.28%	4	+4
SANTA ROSA CALIF PENSION OBLIG REF-TAXABLE-SER B	3.050%	09/01/2008	98.500 / 98.500				5	200
SHIPPENSBURG PA AREA SCH DIST	3.450%	11/01/2016			100.000 / 100.000	3.45% / 3.45%	6	560

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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