Here is the list of the hundred worst "actively traded" Municipal Bond market spreads for the 3rd Quarter of 2002. To be labeled as actively traded on a specific day, a Municipal Bond must have traded at least three times.

Date	CUSIP	Municipal Bond Name / Description	Coupon	Maturity	Best (Highest) Bid	Best (Lowest) Offer	Spread	# of Trades	Volume (000)
07/25/2002	167590-DN-5	CHICAGO ILL O HARE INTL ARPT SPL FAC REV REF-UTD AIR LINES INC PJ-SER A	5.350	09/01/2016	29.500	100.000	70.500	7	1100
07/10/2002	575895-ET-0	MASSACHUSETTS ST PORT AUTH REV	13.000	07/01/2013	109.000	155.020	46.020	3	25
08/26/2002	051558-AD-6	AURORA COLO HSG AUTH MULTIFAMILY REV HSG-SUB-RIVER FALLS PROJ-C	6.000	07/01/2029	74.080	100.000	25.920	4	40
07/26/2002	533406-BN-3	LINCOLN CNTY S D REV AMERICAN BAPTIST HOMES PROJ	6.300	11/15/2007	56.750	82.500	25.750	4	20
07/26/2002	533406-BM-5	LINCOLN CNTY S D REV AMERICAN BAPTIST HOMES PROJ	6.300	05/15/2007	56.750	82.500	25.750	4	20
07/10/2002	207752-AS-5	CONNECTICUT ST MUN ELEC ENERGY COOP PWR SUPPLY SYS REV	7.000	01/01/2015	100.100	124.258	24.158	4	415
09/12/2002	140426-AG-2	CAPITAL PROJS FIN AUTH FLA SOLID WASTE DISP REV CAP PJS LN PG-WCA FLA-SER C	8.000	10/01/2019	72.325	96.300	23.975	7	120
09/04/2002	240471-EF-5	DEKALB CNTY GA HSG AUTH MULTI FAMILY HSG REV REGENCY WOODS PJ-SR-SER A	6.500	01/01/2026	71.500	95.048	23.548	4	80
09/23/2002	01852L-AA-8	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLINES INC PROJ	7.500	12/01/2029	39.520	61.000	21.480	7	165
09/18/2002	01852L-AB-6	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLS INC PROJ	7.000	12/01/2011	48.750	67.763	19.013	4	2020
09/26/2002	491026-JG-6	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	7.500	02/01/2020	75.500	94.446	18.946	3	50
08/15/2002	716220-AV-0	PETERSBURG IND POLLUTN CTL REV REF-INDIANAPOLIS PWR & LT-C	5.500	10/01/2023	80.076	98.836	18.760	3	55
08/19/2002	491026-JK-7	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	7.125	02/01/2021	81.875	100.000	18.125	5	105
08/19/2002	01852L-AA-8	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLINES INC PROJ	7.500	12/01/2029	55.000	72.500	17.500	12	5300
08/15/2002	491026-JK-7	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	7.125	02/01/2021	82.800	100.000	17.200	5	90
07/11/2002	114718-AA-7	BROOKWOOD CORRIDOR IMPT DIST BROOKWOOD ALA BD ANTIC NTS	7.500	02/15/2001	38.500	55.000	16.500	5	260
07/02/2002	162686-AP-4	CHEATHAM CNTY TENN INDL DEV BRD INDL REV TRITON BOAT CO PROJ-SER A	5.800	07/01/2009	85.410	101.000	15.590	5	125
08/14/2002	95640S-AF-1	WEST VY CITY UTAH REDEV AGY TAX INCREMENT REV	5.500	03/01/2008	93.228	108.730	15.502	4	225
07/08/2002	649652-VH-4	NEW YORK N Y SER D	6.600	02/01/2004	91.400	106.781	15.381	4	40
09/24/2002	491026-JK-7	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	7.125	02/01/2021	76.950	92.250	15.300	6	95
08/21/2002	87638L-BY-5	TARRANT CNTY TEX HEALTH FACS DEV CORP REV HLTH FACS-WESTCHESTER RETIRE-A	8.000	08/01/2025	17.235	32.500	15.265	5	50
08/13/2002	360052-AK-0	FULTON CNTY GA DEV AUTH SPL FACS REV DELTA AIRLINES INC PROJ	5.500	05/01/2033	66.000	81.152	15.152	4	160
09/13/2002	084353-AP-6	BERKELEY MO INDL DEV AUTH INDL DEV REV REF-HERITAGE ST LOUIS INC	8.000	12/01/2010	85.000	100.000	15.000	4	7
09/24/2002	686076-DV-9	OREGON ST ECONOMIC DEV REV REF-GA-PACIFIC CORP PJ-SER 183	5.700	12/01/2025	70.780	85.750	14.970	4	30
08/06/2002	274503-AD-3	EAST POINT GA HSG AUTH MULTIFAMILY REV HSG-COLONY REGENCY PARTNERS-A	6.750	03/01/2013	77.170	92.000	14.830	5	350
09/30/2002	360052-AJ-3	FULTON CNTY GA DEV AUTH SPL FACS REV DELTA AIRLINES INC PROJ	5.450	05/01/2023	54.106	68.750	14.644	5	150
09/09/2002	491026-JG-6	KENTON CNTY KY ARPT BRD ARPT REV SPL FACS-DELTA AIRLINES PJ-A	7.500	02/01/2020	80.124	94.442	14.318	4	300
08/01/2002	442434-FJ-0	HOUSTON TEX SWR SYS REV	9.375	10/01/2013	126.126	139.673	13.547	4	70
09/16/2002	837107-FH-9	SOUTH CAROLINA ST SER MB	5.900	06/01/2009	103.000	116.488	13.488	4	29
07/18/2002	267152-GJ-9	DUVAL CNTY FLA HSG FIN AUTH MULTI-FAMILY HSG REV MAGNOLIA ARMS APTS PJ-SER	5.000	02/15/2017	55.000	68.000	13.000	5	125
07/12/2002	667579-AL-0	NORTHWEST MINN MULTI-CNTY HSG & REDEV AUTH GOVTL HSG REV POOLED HSG PROG-SE	7.750	10/01/2019	31.151	44.000	12.849	7	485
08/07/2002	826311-AA-0	SIERRA FOOTHILLS CALIF PUB UTIL DIST REV SER A	8.000	08/15/2003	20.000	32.750	12.750	5	100
09/06/2002	567656-CE-1	MARIETTA GA DEV AUTH REV STUDENT HSG-SOUTHN POLYTECH-A	6.375	11/01/2027	77.350	90.000	12.650	8	170
07/25/2002	774851-AF-6	RODDY RANCH PUB FING AUTH CALIF CTFS PARTN SER A	8.000	08/15/2009	13.500	26.000	12.500	6	180
09/20/2002	235035-AH-5	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	7.250	11/01/2030	38.550	51.000	12.450	4	220
09/10/2002	031368-AJ-2	AMHERST N Y INDL DEV AGY LEASE REV MULTI SURFACE RINK COMPEX-A	5.250	10/01/2008	102.036	114.476	12.440	4	140
08/14/2002	657902-QB-1	NORTH CAROLINA MED CARE COMMN HEALTH CARE FACS REV FIRST MTG-DEERFIELD EPIS	6.000	11/01/2027	84.970	97.335	12.365	5	100
08/02/2002	709171-6P-2	PENNSYLVANIA ST HIGHER EDL FACS AUTH COLLEGE & UNIV REVS COLLEGE SCIENCE &	5.350	04/15/2028	82.420	94.656	12.236	5	45
08/19/2002	235035-AH-5	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	7.250	11/01/2030	62.000	74.235	12.235	6	320
07/11/2002	80329L-AT-6	SARASOTA CNTY FLA HEALTH FAC AUTH REV REF-SW FLA RETIRMNT CTR-SER A	6.500	01/01/2023	83.000	95.100	12.100	7	78
09/30/2002	592597-SR-0	METROPOLITAN TRANSN AUTH N Y SVC CONTRACT COMMUTER FACS-SER 3	7.375	07/01/2008	105.488	117.585	12.097	6	210
08/22/2002	871720-BJ-6	SYRACUSE N Y INDL DEV AGY CIVIC FAC REV CROUSE HLTH INC PJ	5.250	01/01/2017	88.000	100.000	12.000	4	40
07/11/2002	80329L-AM-1	SARASOTA CNTY FLA HEALTH FAC AUTH REV PUT OPT-SUNNYSIDE PPTYS PROJ	6.500	05/15/2021	88.000	100.000	12.000	3	51
08/14/2002	249271-EY-9	DENVER COLO CITY & CNTY SPL FACS ARPT REV UNITED AIR LINES PROJ-SER A	6.875	10/01/2032	37.000	49.000	12.000	7	550
07/25/2002	927676-HR-0	VIRGIN ISLANDS PUB FIN AUTH REV REF-SUB LIEN-FD LN NTS-SER E	6.000	10/01/2022	88.250	100.250	12.000	5	3040
08/27/2002	01852L-AA-8	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLINES INC PROJ	7.500	12/01/2029	60.046	72.000	11.954	7	275
08/16/2002	353186-FV-6	FRANKLIN CNTY OHIO HOSP REV CHILDRENS HOSP PROJ-IMPT	8.000	06/01/2009	102.000	113.947	11.947	5	35
09/16/2002	28208N-AA-8	EFFINGHAM CNTY GA DEV AUTH SOLID WASTE DISP REV FORT JAMES PROJ	5.625	07/01/2018	75.050	86.976	11.926	4	60
07/02/2002	61213H-DN-4	MONTANA ST BRD INVT UNREFUNDED BAL-96-PAYROLL TAX	6.875	07/01/2020	102.000	113.875	11.875	6	60
09/27/2002	59465E-CX-9	MICHIGAN ST HOSP FIN AUTH REV REF-HOSP-SINAI HOSPITAL	6.625	01/01/2016	94.366	106.219	11.853	5	125
07/09/2002	235035-AH-5	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	7.250	11/01/2030	81.500	93.340	11.840	6	90
09/20/2002	181004-AZ-5	CLARK CNTY NEV INDL DEV REV NEV PWR CO PROJ-SER A	5.900	11/01/2032	75.672	87.500	11.828	4	125
09/13/2002	28208N-AA-8	EFFINGHAM CNTY GA DEV AUTH SOLID WASTE DISP REV FORT JAMES PROJ	5.625	07/01/2018	75.154	86.975	11.821	6	115
08/12/2002	646139-CA-1	NEW JERSEY ST TPK AUTH TPK REV	5.750	01/01/2009	100.000	111.800	11.800	4	485
07/03/2002	591745-CC-6	METROPOLITAN ATLANTA RAPID TRAN AUTH GA SALES TAX REV	7.000	07/01/2011	110.000	121.597	11.597	3	20
09/27/2002	663722-AQ-9	NORTHAMPTON PA BUCKS CNTY MUN AUTH SWR REV	6.200	11/01/2013	104.550	116.112	11.562	3	30
09/18/2002	944314-DH-3	WAYNE CHARTER CNTY MICH ARPT REV SUB LIEN-DETROIT METRO-SER B	5.500	12/01/2021	92.938	104.500	11.562	4	50
08/22/2002	469404-HG-5	JACKSONVILLE FLA HEALTH FACS AUTH HOSP REV REF-METHODIST HOSP-SER A	8.000	10/01/2015	88.000	99.500	11.500	7	235
09/06/2002	069296-AX-9	BARTLESVILLE OKLA DEV AUTH REV GREEN CNTRY VLG INC PJ	8.250	07/01/2026	26.875	38.300	11.425	4	40
09/23/2002	157789-EE-4	CHAMBERS CNTY TEX CTFS OBLIG	5.000	03/01/2012	100.000	111.054	11.054	3	140
07/08/2002	01852L-AA-8	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLINES INC PROJ	7.500	12/01/2029	83.435	94.466	11.031	5	85
09/10/2002	115117-AM-5	BROWARD CNTY FLA WTR & SWR UTIL REV	6.875	09/01/2008	100.000	111.025	11.025	3	150
07/01/2002	207726-R9-3	CONNECTICUT ST CAP APPREC-COLLEGE SAVINGS-A		05/15/2006	78.125	89.149	11.024	3	9
08/06/2002	686076-CY-4	OREGON ST ECONOMIC DEV REV VAR-GA-PACIFIC CORP-SER CLVII	6.350	08/01/2025	90.000	101.000	11.000	5	75
08/14/2002	652041-AB-0	NEWPORT KY PUB PPTYS CORP REV 1ST MTG-PUB PRKG & PLAZA-A-1	8.500	01/01/2027	82.069	93.000	10.931	3	200
09/05/2002	452149-AN-7	ILLINOIS ST ANTI POLLUTN-NON CALL	8.750	11/01/2007	116.000	126.918	10.918	5	25
07/18/2002	899661-DH-2	TULSA OKLA MUN ARPT TR REV REF-SER B	5.650	12/01/2035	80.000	90.865	10.865	5	65
09/23/2002	157789-ED-6	CHAMBERS CNTY TEX CTFS OBLIG	5.000	03/01/2011	100.000	110.806	10.806	4	245
08/21/2002	797651-CR-5	SAN FRANCISCO CALIF ARPT IMPT CORP LEASE REV UTD AIRLS INC	8.000	07/01/2013	113.150	123.831	10.681	5	35
08/05/2002	235035-AH-5	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	7.250	11/01/2030	71.477	82.132	10.655	12	945
09/05/2002	79306E-DG-6	ST PAUL MINN PORT AUTH INDL DEV REV SER C-1996 LOTTERY	10.000	12/01/2006	88.880	99.500	10.620	5	40
09/12/2002	875290-DM-7	TAMPA FLA WTR & SWR REV	6.900	10/01/2016	115.020	125.623	10.603	4	65
09/19/2002	081516-AD-8	BEN HILL CNTY GA DEV AUTH HEALTHCARE FAC REV CHAMBER HEALTH CARE SOC INC-A	7.750	08/01/2029	68.450	79.000	10.550	4	45
07/10/2002	681793-US-2	OMAHA PUB PWR DIST NEB ELEC REV SER A	7.625	02/01/2012	111.000	121.540	10.540	4	30
09/10/2002	739247-AA-2	POWER CNTY IDAHO INDL DEV CORP SOLID WASTE DISP REV FMC CORP PJ	6.450	08/01/2032	90.138	100.660	10.522	4	285
09/11/2002	919676-AE-6	VALLEY HEALTH SYS CALIF HOSP REV REF & IMPT PROJ-SER A	6.500	05/15/2015	67.500	78.000	10.500	5	150
07/09/2002	43232V-CH-2	HILLSBOROUGH CNTY FLA SCH BRD CTFS PARTN MASTER LEASE PROG	5.000	07/01/2023	90.030	100.500	10.470	5	45
08/02/2002	452149-KV-8	ILLINOIS ST ZERO CPN		08/01/2008	69.233	79.632	10.399	4	20
08/13/2002	804145-DA-5	SAUGATUCK MICH PUB SCH DIST REF	4.000	05/01/2012	90.446	100.825	10.379	3	490
09/23/2002	157789-EC-8	CHAMBERS CNTY TEX CTFS OBLIG	5.000	03/01/2010	100.000	110.359	10.359	3	170
09/25/2002	721772-CB-5	PIMA CNTY ARIZ HOSP REV TUSCON MED CTR	10.375	04/01/2007	109.500	119.828	10.328	5	30
07/09/2002	432347-DZ-2	HILLSBOROUGH CNTY FLA UTIL REF REV	9.875	12/01/2011	120.590	130.899	10.309	6	70
09/30/2002	64983W-S5-6	NEW YORK ST DORM AUTH REVS MOUNT SINAI HEALTH-SER A	6.250	07/01/2008	101.100	111.364	10.264	4	90
08/21/2002	235035-AF-9	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV DELTA AIR LINES INC	7.125	11/01/2026	75.751	85.967	10.216	5	1045
07/01/2002	235035-AH-5	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV AMERICAN AIRLINES INC	7.250	11/01/2030	81.440	91.625	10.185	4	70
07/31/2002	207726-SB-7	CONNECTICUT ST CAP APPREC-SER A		07/01/2008	71.272	81.413	10.141	4	26
07/12/2002	01852L-AA-8	ALLIANCE ARPT AUTH INC TEX SPL FACS REV AMERICAN AIRLINES INC PROJ	7.500	12/01/2029	81.815	91.889	10.074	5	80
09/30/2002	00037E-DP-8	ABAG FIN AUTH FOR NONPROFIT CORPS CALIF CTFS PARTN REF-AMERICAN BAPTIST HOM	5.850	10/01/2027	86.750	96.813	10.063	3	30
09/19/2002	235035-AF-9	DALLAS-FORT WORTH TEX INTL ARPT FAC IMPT CORP REV DELTA AIR LINES INC	7.125	11/01/2026	63.923	73.972	10.049	6	110
08/06/2002	251219-BE-0	DETROIT MICH PORT DEV CORP MODIFIED FIRST MTG REV SER A	5.250	10/01/2017	76.180	86.180	10.000	4	16
08/29/2002	737259-BT-7	PORTSMOUTH VA REDEV & HSG AUTH REV REF-1ST MTG-HOLIDAY INN FAC	7.375	05/15/2010	88.530	98.500	9.970	5	75
09/13/2002	64578C-AG-6	NEW JERSEY ECONOMIC DEV AUTH SPL FAC REV CONTINENTAL AIRLINES INC PJ	6.400	09/15/2023	69.627	79.590	9.963	3	2030
09/23/2002	157789-EA-2	CHAMBERS CNTY TEX CTFS OBLIG	5.000	03/01/2008	100.000	109.861	9.861	3	240
08/20/2002	497752-BY-0	KISKI PA AREA SCH DIST	5.400	03/01/2017	101.250	111.048	9.798	3	605
08/08/2002	731209-EE-8	POLK CNTY IOWA REV CATHOLIC HLTH INITIATIVES-A	5.000	12/01/2028	89.510	99.269	9.759	3	85
07/25/2002	530739-AA-9	LIBERTY MO INDL DEV AUTH INDL DEV REV REF-KMART CORP PROJ	5.650	11/01/2009	60.760	70.500	9.740	4	90
09/05/2002	575823-FZ-7	MASSACHUSETTS ST	4.400	06/01/2018	94.888	104.626	9.738	3	90
08/01/2002	169142-BT-2	CHILLICOTHE MO ELEC REV	10.250	09/01/2006	106.000	115.687	9.687	3	30
08/13/2002	432321-DD-6	HILLSBOROUGH CNTY FLA INDL DEV AUTH INDL DEV REV UNIV CMNTY HOSP	6.500	08/15/2019	111.000	120.603	9.603	4	50
09/05/2002	902261-DS-2	TYLER TEX HEALTH FACS DEV CORP HOSP REV EAST TEX MED CTR PJ-SER B	5.600	11/01/2027	97.029	106.592	9.563	4	80

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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