Trades and Prices for Pension Obligation Bonds: 04/04/2008

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: 04/04/2008.

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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	100.756 / 100.756		101.731 / 101.731	2.70% / 2.70%	4	100
DENVER COLO CITY & CNTY SCH DIST NO 001 CTFS PARTN UNREFUNDED BAL-TAXABLE-PENSION	6.790%	12/15/2008	102.250 / 102.250		102.250 / 102.250	3.45% / 3.45%	2	500
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL-SR PENSION FDG-SER A	6.150%	07/01/2038			100.000 / 101.667	6.15% / 5.93%	4	285
JACKSON CNTY ORE SCH DIST NO 549C MEDFORD TAXABLE-LTD TAX PENSION	4.951%	06/30/2009			101.699 / 101.699	3.52% / 3.52%	2	50
LONG BEACH CALIF PENSION OBLIG TAXABLE-PREREFUNDED	7.090%	09/01/2009	103.625 / 103.625		104.500 / 104.500	3.74% / 3.74%	2	20
LONG BEACH CALIF PENSION OBLIG TAXABLE-UNREFUNDED BALANCE	7.090%	09/01/2009	103.625 / 103.625		104.500 / 104.500	3.74% / 3.74%	2	10
MULTNOMAH CNTY ORE TAXABLE-PENSION OBLIG	7.430%	06/01/2019			117.873 / 117.873	5.29% / 5.29%	1	30
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER A	7.425%	02/15/2029			120.876 / 120.876	5.70% / 5.70%	1	15
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2013	80.250 / 80.250		80.951 / 80.951	4.41% / 4.41%	3	90
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			40.781 / 40.781	6.20% / 6.20%	2	30
OAKLAND CALIF PENSION OBLIG TAXABLE-SUB-SER A	6.950%	12/15/2008	102.250 / 102.250		102.250 / 102.250	3.60% / 3.60%	2	360
ORANGE CNTY CALIF PENSION OBLIG TAXABLE-REF-SER A	7.310%	09/01/2009	103.000 / 103.000				1	150
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021	96.833 / 97.000				4	80
OREGON ST LOC GOVTS TAXABLE-PENSION OBLIG	5.350%	06/01/2013	102.800 / 102.800		103.000 / 103.000	4.69% / 4.69%	3	855
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG RETIREMENT SYS-SER A	5.890%	04/15/2011			105.827 / 105.827	3.83% / 3.83%	2	40
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2020	47.256 / 47.256				1	30
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2024	36.012 / 36.012		37.323 / 37.323	6.25% / 6.25%	2	40
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-B-RMK-7/1/98	%	07/01/2020	100.000 / 100.000		100.000 / 100.000		2	900
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-C-RMK-7/1/98	%	07/01/2022	100.000 / 100.000		100.000 / 100.000		2	500
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2016	63.150 / 64.025		65.000 / 65.000	5.25% / 5.25%	6	520
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2018			55.319 / 55.319	5.83% / 5.83%	1	5
SAN BERNARDINO CNTY CALIF PENSION OBLIG REF	6.020%	08/01/2023			101.300 / 102.326	5.89% / 5.79%	13	600
SAN DIEGO CALIF MET TRAN DEV BRD VAR-TAXABLE PENSION OBLIG-B	%	12/01/2033	100.000 / 100.000		100.000 / 100.000		2	200
SHIPPENSBURG BORO PA AUTH WTR REV GTD	4.500%	05/01/2023			101.030 / 101.030	3.50% / 3.50%	2	200
SHIPPENSBURG PA AREA SCH DIST	3.050%	11/01/2014			99.703 / 99.703	3.10% / 3.10%	1	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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