Trades and Prices for Pension Obligation Bonds: 04/21/2008

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: 04/21/2008.

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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	5.000%	08/01/2010	101.138 / 101.138				3	150
BAYONNE N J REF-TAXABLE-PENSION	5.050%	01/15/2018	97.901 / 97.901		98.500 / 98.500	5.25% / 5.25%	2	+2
BELL CALIF PUB FING AUTH REV TAXABLE-PENSION	5.170%	08/01/2013	98.499 / 99.125		101.125 / 101.125	4.92% / 4.92%	6	60
CONTRA COSTA CNTY CALIF FIRE PROTN DIST TAXABLE PENSION OBLIG	4.930%	08/01/2017			99.845 / 99.845	4.95% / 4.95%	1	30
EL PASO TEX TAXABLE-PENSION	5.770%	08/15/2014	105.384 / 105.384		106.900 / 106.900	4.50% / 4.50%	2	200
ELKHART IND CMNTY SCHS TAXABLE-PENSION	5.850%	07/05/2021	96.450 / 96.450				3	30
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO CAP APPREC-RETAIL-SR PENSION-A	0.000%	07/01/2028			29.442 / 29.442	6.10% / 6.10%	1	20
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL-SR PENSION FDG-SER A	6.150%	07/01/2038	100.000 / 100.000		101.667 / 101.667	5.93% / 5.93%	4	155
FRESNO CALIF PENSION OBLIG MBIA-IBC	7.800%	06/01/2014	100.290 / 100.290				1	5
ILLINOIS ST TAXABLE-PENSION	5.100%	06/01/2033			97.000 / 97.000	5.32% / 5.32%	1	10
LONG BEACH CALIF PENSION OBLIG REF-TAXABLE-B-RMKT 12/30/2005	5.110%	09/01/2015			101.895 / 101.895	4.80% / 4.80%	1	45
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER D	0.000%	06/30/2010	90.150 / 90.150				2	90
LOS ANGELES CNTY CALIF PENSION OBLIG CTFS LTD INT MUN OBLIG-A-MBIA-IBC	6.900%	06/30/2008			100.921 / 100.921	1.82% / 1.82%	1	100
NEWARK N J REF-TAXABLE-PENSION OBLIG	5.603%	04/01/2018			101.487 / 101.487	5.41% / 5.41%	7	2000+4
NEWARK N J REF-TAXABLE-PENSION OBLIG	5.853%	04/01/2022			101.361 / 102.733	5.71% / 5.57%	9	540
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2018			53.306 / 53.306	6.00% / 6.00%	1	85
OREGON SCH BRDS ASSN TAXABLE-PENSION DEFD INT-SER A	0.000%	06/30/2015	66.825 / 66.825		68.500 / 68.500	5.34% / 5.34%	2	50
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021	95.000 / 95.000		97.500 / 97.500	5.77% / 5.77%	4	60
PALM BAY FLA SPL OBLIG TAXABLE-PENSION FDG PROJ	4.430%	10/01/2012			100.250 / 100.500	4.37% / 4.30%	2	25
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG RETIREMENT SYS-SER A	5.890%	04/15/2011			105.000 / 105.875	4.09% / 3.78%	2	15
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014			75.299 / 75.757	4.80% / 4.70%	9	445
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%	08/01/2015			68.605 / 68.605	5.25% / 5.25%	1	10
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2016	61.500 / 61.851		63.797 / 63.797	5.51% / 5.51%	6	90
WORCESTER MASS CAP APPREC-PENSION FDG LN	0.000%	01/01/2014	73.751 / 73.751				1	865

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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