Trades and Prices for Pension Obligation Bonds: 06/12/2008

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: 06/12/2008.

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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)
ALAMEDA CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER B	0.000%	12/01/2008			98.451 / 98.451	3.45% / 3.45%	1	40
AMBRIDGE PA TAXABLE-PENSION	0.000%	11/15/2017			40.000 / 40.000	9.98% / 9.98%	1	205
AMBRIDGE PA TAXABLE-PENSION	0.000%	11/15/2018			37.000 / 37.000	9.78% / 9.78%	1	205
FRANKLIN TWP SOMERSET CNTY N J OPENS SPACE TRUST FUND	4.125%	05/01/2010			103.137 / 103.137	2.40% / 2.40%	1	25
JOSEPHINE CNTY ORE PENSION OBLIG REV SER B	6.125%	06/01/2021	98.000 / 98.000		100.000 / 100.000	6.12% / 6.12%	2	10
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2015			68.493 / 68.493	5.36% / 5.36%	2	40
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2018	52.507 / 52.507				1	7
KERN CNTY CALIF PENSION OBLIG TAXABLE	7.260%	08/15/2014	108.033 / 108.033				2	170
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2008	99.500 / 99.500				2	50
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER C	0.000%	06/30/2009	94.700 / 94.700		95.700 / 96.518	4.29% / 3.45%	8	800
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER D	0.000%	06/30/2010	91.010 / 91.010				1	370
MARIN CNTY CALIF TAXABLE-PENSION OBLIG	5.340%	08/01/2022			95.599 / 95.599	5.80% / 5.80%	2	+2
MONROE TWP N J MIDDLESEX CNTY REF-TAXABLE-PENSION	5.000%	08/15/2013	97.350 / 97.350		99.250 / 99.250	5.17% / 5.17%	2	40
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2012	81.570 / 81.570				3	90
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2018			52.586 / 52.586	6.22% / 6.22%	2	40
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2012	79.400 / 79.400				4	400
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2016	60.944 / 60.944				1	15
OREGON SCH BRDS ASSN TAXABLE PENSION	5.131%	06/30/2013			100.221 / 100.250	5.08% / 5.07%	4	845
OREGON ST TAXABLE-PENSION	5.305%	06/01/2016	98.700 / 98.700		99.200 / 99.200	5.43% / 5.43%	2	100
PENSACOLA FLA ARPT REV REF-SER A	4.250%	10/01/2024					2	80
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2014			73.891 / 74.176	5.26% / 5.19%	6	130
PITTSBURGH PA TAXABLE-PENSION-SER B	6.500%	03/01/2014	100.125 / 100.125				3	60
PITTSBURGH PA TAXABLE-PENSION-SER B	6.500%	03/01/2015			103.750 / 105.750	5.82% / 5.46%	18	2360
PORTLAND ME TAXABLE-PENSION BDS	%	06/01/2026	100.000 / 100.000				3	500+1
RICHMOND CALIF TAXABLE-LTD OBLIG PENSION-A	7.390%	08/01/2013	111.500 / 111.500		111.600 / 111.600	4.81% / 4.81%	2	190
RIVERSIDE CALIF PENSION OBLIG REF-TAXABLE-BD ANTIC NTS-SER A	3.180%	06/01/2009			100.399 / 100.399	2.75% / 2.75%	1	+1
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2013			77.239 / 77.239	5.07% / 5.07%	2	10
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2014	69.140 / 69.140		72.584 / 72.584	5.27% / 5.27%	3	38
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-B-RMK-7/1/98	%	07/01/2020	100.000 / 100.000		100.000 / 100.000		2	700
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-C-RMK-7/1/98	%	07/01/2022	100.000 / 100.000		100.000 / 100.000		2	400
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2013	73.677 / 73.677				1	7
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2015	64.885 / 64.885				1	7
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2016			63.225 / 63.225	5.72% / 5.72%	6	105
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2017	56.802 / 56.802				1	8
SEASIDE HEIGHTS N J REF-TAXABLE-PENSION	6.250%	06/01/2020			101.100 / 102.270	6.03% / 5.79%	5	80
TRENTON N J REF-TAXABLE-PENSION-SER A	4.700%	04/01/2013			100.041 / 100.041	4.69% / 4.69%	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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