Trades and Prices for Pension Obligation Bonds: 06/09/2008

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: 06/09/2008.

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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%	08/01/2009	99.329 / 99.329		101.329 / 101.329	2.50% / 2.50%	4	20
CONTRA COSTA CNTY CALIF FIRE PROTN DIST TAXABLE PENSION OBLIG	5.040%	08/01/2021			93.194 / 93.194	5.79% / 5.79%	2	150
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL-SR PENSION FDG-SER A	6.150%	07/01/2038	100.000 / 100.000		100.000 / 100.000	6.15% / 6.15%	3	215
FRESNO CALIF PENSION OBLIG MBIA-IBC	7.800%	06/01/2014			113.069 / 113.069	5.22% / 5.22%	2	10
FRESNO CNTY CALIF PENSION OBLIG PREREFUNDED-TAXABLE	6.260%	08/15/2008	100.226 / 100.226				2	40
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2019	48.995 / 48.995				1	20
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2009			94.907 / 94.907	5.04% / 5.04%	1	5
MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV SCHEPENS EYE RESEARCH-SER A	6.500%	07/01/2028			104.100 / 104.114	5.20% / 5.20%	2	100
NEW ORLEANS LA PENSION REV VAR-TAXABLE	%	09/01/2030	100.000 / 100.000				3	800
NEWARK N J REF-TAXABLE-PENSION OBLIG	5.853%	04/01/2022			103.000 / 103.000	5.54% / 5.54%	1	15
ONONDAGA CNTY N Y TAXABLE-PENSION	4.250%	10/15/2009			100.750 / 100.750	3.67% / 3.67%	2	10
OREGON SCH BRDS ASSN TAXABLE-PENSION DEFD INT-SER A	0.000%	06/30/2017	57.000 / 57.000				3	60
OREGON ST TAXABLE-PENSION	5.892%	06/01/2027	99.950 / 99.950				1	+1
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG RETIREMENT SYS-SER A	5.890%	04/15/2011	100.270 / 100.270		102.422 / 102.422	4.96% / 4.96%	14	1250
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2025			33.831 / 33.831	6.54% / 6.54%	1	25
PLEASANTVILLE N J SCH DIST TAXABLE-REF-PENSION	5.250%	02/15/2020			98.800 / 98.800	5.39% / 5.39%	4	150
RIVERSIDE CALIF PENSION OBLIG TAXABLE-SER A	4.450%	06/01/2011	97.812 / 97.812				1	25
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2010			91.658 / 91.658	4.04% / 4.04%	2	20
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2011			87.000 / 87.000	4.49% / 4.49%	3	75
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2016	61.851 / 61.851				3	105
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2018	52.994 / 52.994				1	20
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER A	4.120%	08/15/2009			100.359 / 100.359	3.80% / 3.80%	1	50
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	100
SAN DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER B	%	08/15/2032			100.000 / 100.000		1	25
SEASIDE HEIGHTS N J REF-TAXABLE-PENSION	6.250%	06/01/2020			102.250 / 102.250	5.80% / 5.80%	1	50
SONOMA CNTY CALIF PENSION OBLIG	6.625%	06/01/2013			104.000 / 104.250	5.69% / 5.63%	7	175

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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