Trades and Prices for Pension Obligation Bonds: 03/25/2008

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: 03/25/2008.

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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)
CARTERET N J SCH DIST REF-TAXABLE-PENSION	5.650%	03/15/2021	98.250 / 98.250				1	20
DALLAS TEX STEP-UP-TAXABLE-PENSION-SER C	5.250%	02/15/2024	97.530 / 97.530				4	200
DANVILLE IND CMNTY SCH CORP TAXABLE-PENSION	4.400%	07/05/2009	97.100 / 97.100				1	5
DENVER COLO CITY & CNTY SCH DIST NO 001 CTFS PARTN UNREFUNDED BAL-TAXABLE-PENSION	6.790%	12/15/2008	102.350 / 102.350		102.350 / 102.350	3.42% / 3.42%	2	400
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL-SR PENSION FDG-SER A	6.150%	07/01/2038	98.500 / 100.000		100.000 / 101.500	6.15% / 5.95%	6	1425+3
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER A	0.000%	10/01/2011	83.777 / 83.777				1	30
ILLINOIS ST TAXABLE-PENSION	3.550%	06/01/2011	98.402 / 98.402				1	25
ILLINOIS ST TAXABLE-PENSION	3.750%	06/01/2012			98.853 / 98.891	4.05% / 4.04%	3	1000
ILLINOIS ST TAXABLE-PENSION	4.350%	06/01/2018			97.250 / 97.250	4.69% / 4.69%	3	600
JERSEY CITY N J REF-TAXABLE-PENSION OBLIG-B	4.930%	02/01/2015	98.450 / 98.450				2	40
JOSEPHINE CNTY ORE PENSION OBLIG REV SER B	6.250%	06/01/2024			105.120 / 105.120	4.50% / 4.50%	1	5
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2019			50.508 / 50.508	6.09% / 6.09%	2	50
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2020					2	40
KERN CNTY CALIF PENSION OBLIG TAXABLE	7.260%	08/15/2014			106.941 / 106.941	5.93% / 5.93%	1	30
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2008			99.312 / 99.312	2.71% / 2.71%	2	40
MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV SCHEPENS EYE RESEARCH-SER A	6.500%	07/01/2028			103.125 / 103.125	5.66% / 5.66%	1	55
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2025			35.837 / 40.819	6.17% / 5.38%	3	80
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2014			71.508 / 72.428	5.06% / 4.86%	5	85
OREGON SCH BRDS ASSN TAXABLE-PENSION	3.250%	06/30/2008	99.665 / 99.665		99.800 / 99.800	4.01% / 4.01%	2	40
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021			97.600 / 98.375	5.76% / 5.67%	3	40
OREGON ST TAXABLE-PENSION	4.605%	06/01/2011	102.000 / 102.000		102.200 / 102.200	3.86% / 3.86%	3	750
PALM BAY FLA SPL OBLIG VAR-TAXABLE-PENSION FDG PROJ	%	10/01/2037	100.000 / 100.000		100.000 / 100.000		2	600
PASSAIC CNTY N J REF-TAXABLE-PENSION	4.760%	02/15/2013	103.308 / 103.308		104.240 / 104.240	3.80% / 3.80%	2	+2
PATERSON N J CAP APPREC-REF-TAXABLE-PENSION	0.000%	04/01/2014	73.500 / 73.500				1	25
PENSACOLA FLA ARPT REV REF-AMT-SER A	6.125%	10/01/2018			103.018 / 103.018	4.00% / 4.00%	2	30
PENSACOLA FLA SALES & EXCISE TAX REV REF	4.000%	10/01/2011			103.150 / 103.150	3.05% / 3.05%	2	200
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014			75.731 / 75.731	4.65% / 4.65%	2	80
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2026			34.500 / 34.500	5.99% / 5.99%	3	150
PORTLAND ME TAXABLE-PENSION BDS	%	06/01/2026	100.000 / 100.000		100.000 / 100.000		4	200+2
PORTLAND ORE PARS-TAXABLE-PENSION OBLIG-E	%	06/01/2019	100.000 / 100.000		100.000 / 100.000		2	100
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2010			91.002 / 91.002	4.00% / 4.00%	1	20
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2014			72.297 / 72.297	5.15% / 5.15%	2	10
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-B-RMK-7/1/98	%	07/01/2020	100.000 / 100.000		100.000 / 100.000		3	400
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV	6.870%	08/01/2008			101.293 / 101.293	3.01% / 3.01%	3	3000
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2018	54.508 / 54.508				1	25
SAN BERNARDINO CNTY CALIF PENSION OBLIG SER A	5.150%	08/01/2011	101.600 / 101.600				3	270
SAN BERNARDINO CNTY CALIF PENSION OBLIG VAR-TAXABLE-SER B-1	%	08/01/2023	100.000 / 100.000		100.000 / 100.000	0.18% / 0.18%	5	2800
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	50
SONOMA CNTY CALIF PENSION OBLIG TAXABLE-SER A	3.240%	12/01/2008	99.481 / 99.481				2	300
SOUTHEAST DUBOIS CNTY SCH CORP IND TAXABLE-PENSION	4.500%	01/15/2015	99.650 / 99.650		99.750 / 99.750	4.54% / 4.54%	2	200

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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