Trades and Prices for Pension Obligation Bonds: 04/15/2008

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: 04/15/2008.

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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)
ALLENTOWN PA REF-TAXABLE-PENSION	3.410%	10/01/2009	97.100 / 97.100		99.036 / 99.036	4.10% / 4.10%	4	40
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL SR PENSION FDG-SER A	5.850%	07/01/2023	99.000 / 99.000				1	200
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL-SR PENSION FDG-SER A	6.150%	07/01/2038			101.000 / 101.667	6.02% / 5.93%	2	25
FAIRFIELD CALIF PENSION OBLIG VAR-TAXABLE-REF-A-2	%	06/01/2034	100.000 / 100.000		100.000 / 100.000		2	200
FRESNO CALIF TAXABLE-REF-PENSION OBLIGS	6.550%	06/01/2029	98.660 / 98.660		100.029 / 100.029	6.55% / 6.55%	2	60
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER A	0.000%	10/01/2011			86.607 / 86.607	4.21% / 4.21%	1	30
HUNTINGTON PK CALIF PENSION OBLIG REF-TAXABLE-A-CONV 04/05/07	5.757%	08/01/2025	96.020 / 96.020		97.391 / 97.391	6.00% / 6.00%	2	40
ILLINOIS ST TAXABLE-PENSION	5.100%	06/01/2033	97.414 / 97.414		97.538 / 97.538	5.28% / 5.28%	2	+2
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2018			55.303 / 55.303	5.82% / 5.82%	1	5
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2020	45.745 / 48.262				6	870
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2021	42.617 / 42.617		44.850 / 44.850	6.11% / 6.11%	5	505
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2008	98.650 / 98.650				1	15
MULTNOMAH CNTY ORE TAXABLE-PENSION OBLIG	7.430%	06/01/2019	114.840 / 114.840				1	10
NEW ALBANY FLOYD CNTY IND CONS SCH CORP TAXABLE-PENSION	3.750%	07/15/2008	100.022 / 100.022		100.172 / 100.172	3.00% / 3.00%	2	670
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2012	83.498 / 83.498		84.644 / 84.644	4.41% / 4.41%	3	45
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2020			53.199 / 53.199	5.41% / 5.41%	1	35
NEWARK N J REF-TAXABLE-PENSION OBLIG	5.603%	04/01/2018			101.902 / 103.380	5.35% / 5.16%	7	400
NEWARK N J REF-TAXABLE-PENSION OBLIG	5.853%	04/01/2022			100.400 / 103.404	5.81% / 5.50%	6	3000
OREGON SCH BRDS ASSN TAXABLE-PENSION DEFD INT-SER A	0.000%	06/30/2008			99.206 / 99.206	4.00% / 4.00%	1	300
OREGON SCH BRDS ASSN TAXABLE-PENSION DEFD INT-SER A	0.000%	06/30/2018			61.471 / 61.471	4.83% / 4.83%	3	150
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021	96.500 / 96.500		98.000 / 98.000	5.72% / 5.72%	3	60
OREGON ST TAXABLE-PENSION	5.762%	06/01/2023			105.180 / 105.180	5.26% / 5.26%	1	10
OREGON ST LOC GOVTS LTD TAX-PENSION OBLIG-SER B	6.600%	06/01/2025	99.500 / 99.500		100.000 / 100.000	6.42% / 6.42%	2	20
PENSACOLA FLA ARPT REV REF-SER A	4.125%	10/01/2020	95.853 / 95.853				1	30
PENSACOLA FLA ARPT REV REF-SER A	4.250%	10/01/2024			90.108 / 90.108	5.15% / 5.15%	2	50
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014			75.787 / 75.787	4.68% / 4.68%	1	100
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2020			50.000 / 50.000	5.87% / 5.87%	2	100
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-C-RMK-7/1/98	%	07/01/2022	100.000 / 100.000		100.000 / 100.000		4	500+2
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	1100
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

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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