Trades and Prices for Pension Obligation Bonds: 06/13/2008

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: 06/13/2008.

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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)
DENVER COLO CITY & CNTY SCH DIST NO 001 CTFS PARTN CAP APPREC-TAXABLE-PENSION	0.000%	12/15/2017			54.239 / 54.239	6.55% / 6.55%	2	10
EMPLOYEES RETIREMENT SYS GOVT COMWLTH PUERTO RICO RETAIL-SR PENSION FDG-SER A	6.150%	07/01/2038	98.000 / 98.000		99.500 / 99.500	6.19% / 6.19%	2	140
FRANKLIN TWP SOMERSET CNTY N J OPENS SPACE TRUST FUND	4.250%	05/01/2013			102.748 / 103.500	3.24% / 2.97%	6	75
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER A	0.000%	10/01/2013	72.787 / 72.787				1	20
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2018			53.516 / 53.516	6.25% / 6.25%	1	7
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2019			49.405 / 50.227	6.42% / 6.27%	4	40
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER D	0.000%	06/30/2010	89.875 / 89.875				3	300
MARIN CNTY CALIF TAXABLE-PENSION OBLIG	5.410%	08/01/2026			92.825 / 92.825	6.07% / 6.07%	1	+1
MASSACHUSETTS ST HEALTH & EDL FACS AUTH REV SCHEPENS EYE RESEARCH-SER A	6.500%	07/01/2028	100.501 / 100.501		100.601 / 100.601	6.33% / 6.33%	2	200
MONTCLAIR TWP N J REF-TAXABLE-PENSION	5.800%	04/01/2021	97.453 / 97.453				2	30
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2018			57.667 / 57.667	5.78% / 5.78%	2	20
NEWARK N J REF-TAXABLE-PENSION OBLIG	5.853%	04/01/2022			102.816 / 102.816	5.56% / 5.56%	1	30
OAKLAND CALIF PENSION OBLIG TAXABLE	0.000%	12/15/2018			52.595 / 52.595	6.22% / 6.22%	1	175
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2008	98.901 / 98.901				2	48
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2016	58.800 / 58.800				2	100
OREGON SCH BRDS ASSN TAXABLE PENSION	5.131%	06/30/2013			100.221 / 100.221	5.08% / 5.08%	1	20
OREGON ST LOC GOVTS LTD TAX-PENSION OBLIG-SER B	6.600%	06/01/2025	99.000 / 99.000		100.000 / 100.000	6.42% / 6.42%	2	10
PATERSON N J CAP APPREC-REF-TAXABLE-PENSION	0.000%	04/01/2013			79.134 / 79.134	4.95% / 4.95%	1	5
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG RETIREMENT SYS-SER A	6.350%	04/15/2028	97.020 / 97.020				2	60
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2015	65.469 / 65.469				1	10
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2025			32.499 / 32.598	6.79% / 6.77%	8	180
PITTSBURGH PA TAXABLE-PENSION-SER B	6.500%	03/01/2015			105.750 / 105.750	5.46% / 5.46%	3	60
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2010	87.889 / 87.889				3	75
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2011	84.434 / 84.434				1	25
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2014			72.467 / 72.467	5.30% / 5.30%	1	40
SACRAMENTO CNTY CALIF WKLY-TAXABLE-PENS-B-RMK-7/1/98	%	07/01/2020			100.000 / 100.000		1	300
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 DIEGO CNTY CALIF PENSION OBLIG TAXABLE-SER A	4.120%	08/15/2009			98.725 / 98.725	5.26% / 5.26%	2	20
SEASIDE HEIGHTS N J REF-TAXABLE-PENSION	6.250%	06/01/2020			102.770 / 102.770	5.69% / 5.69%	2	30
SOLANO CNTY CALIF PENSION FDG ARS-TAXABLE-SER B-2	%	01/15/2023	100.000 / 100.000		100.000 / 100.000	0.00% / 0.00%	6	4600+1
SYRACUSE N Y TAXABLE-PENSION OBLIG-SER G	4.250%	10/15/2010	97.100 / 97.100				3	180

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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