Trades and Prices for Pension Obligation Bonds: 06/20/2008

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: 06/20/2008.

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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%	12/01/2017	55.398 / 55.398				1	10
AMBRIDGE PA TAXABLE-PENSION	0.000%	11/15/2011			81.100 / 81.100	6.28% / 6.28%	1	190
CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV TAXABLE-CAP APPREC-PENSION-A-2	0.000%	06/01/2016			62.141 / 62.141	6.09% / 6.09%	2	30
DUNMORE PA TAXABLE-PENSION	5.900%	05/15/2016			102.234 / 102.234	5.45% / 5.45%	4	120
FRESNO CNTY CALIF PENSION OBLIG UNREFUNDED BALANCE-TAXABLE	6.260%	08/15/2008	100.040 / 100.040		100.228 / 100.228	4.51% / 4.51%	2	210
GAINESVILLE FLA PENSION OBLIG REV TAXABLE-SER B	0.000%	10/01/2014	69.004 / 69.004				2	20
ILLINOIS ST TAXABLE-PENSION	2.800%	06/01/2009			98.909 / 98.909	4.00% / 4.00%	1	225
ILLINOIS ST TAXABLE-PENSION	5.100%	06/01/2033	90.705 / 90.705		93.279 / 93.279	5.60% / 5.60%	4	450+1
JACKSON CNTY ORE SCH DIST NO 549C MEDFORD TAXABLE-LTD TAX PENSION	5.674%	06/30/2027	98.468 / 98.468		98.668 / 98.668	5.79% / 5.79%	2	+2
KERN CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE	0.000%	08/15/2018	52.750 / 52.750				1	8
LAKEWOOD TWP N J REF-TAXABLE-PENSION	5.600%	04/01/2015	100.000 / 100.000		100.100 / 100.100	5.57% / 5.57%	2	10
LOS ANGELES CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-SER D	0.000%	06/30/2010			91.513 / 92.213	4.45% / 4.07%	6	200
LOS ANGELES CNTY CALIF PENSION OBLIG CTFS LTD INT MUN OBLIG-A-MBIA-IBC	6.900%	06/30/2008	100.000 / 100.000		100.000 / 100.000	6.63% / 6.63%	2	200
MANCHESTER TWP N J REF-TAXABLE-PENSION	4.700%	10/01/2011	97.480 / 97.480				3	60
NAUGATUCK CONN TAXABLE-PENSION-FGIC-FSA-CR	5.910%	06/01/2033			100.090 / 100.090	5.90% / 5.90%	2	20
NEW JERSEY ECONOMIC DEV AUTH ST PENSION FDG REV SER B	0.000%	02/15/2014	73.380 / 73.380				2	200
NEW ORLEANS LA PENSION REV VAR-TAXABLE	%	09/01/2030	100.000 / 100.000				3	700
ORANGE CNTY CALIF PENSION OBLIG CAP APPREC-TAXABLE-REF-SER A	0.000%	09/01/2016			61.993 / 61.993	5.93% / 5.93%	3	45
OREGON CMNTY COLLEGE DISTS TAXABLE-PENSION OBLIG	4.747%	06/30/2013			99.765 / 99.765	4.80% / 4.80%	1	620
OREGON SCH BRDS ASSN TAXABLE-PENSION-SER B	5.500%	06/30/2021	92.550 / 93.550		96.625 / 96.625	5.87% / 5.87%	5	140
PENSACOLA FLA ARPT REV REF-SER A	4.250%	10/01/2024			96.500 / 96.500	4.56% / 4.56%	1	40
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2015	65.354 / 65.354				3	120
PHILADELPHIA PA AUTH FOR INDL DEV PENSION FDG ZERO CPN-RETIREMENT SYS-SER B	0.000%	04/15/2025			33.318 / 33.318	6.65% / 6.65%	2	50
PITTSBURGH PA TAXABLE-PENSION-SER B	6.300%	03/01/2012	99.746 / 100.014				2	20
PORTLAND ME TAXABLE-PENSION BDS	%	06/01/2026			100.000 / 100.000		2	1400
PORTLAND ORE PARS-TAXABLE-PENSION OBLIG-E	%	06/01/2019	100.000 / 100.000				1	150
SACRAMENTO CNTY CALIF CAP APPREC-TAXABLE-PENS FDG-A	0.000%	08/15/2014	69.750 / 69.750				1	7
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2013	75.452 / 75.452				1	8
SAN BERNARDINO CNTY CALIF FING AUTH PENSION OBLIG REV CAP APPREC	0.000%	08/01/2015	66.615 / 66.615				1	8
SAN DIEGO CALIF MET TRAN DEV BRD VAR-TAXABLE PENSION OBLIG-B	%	12/01/2033	100.000 / 100.000				5	1200
TEANECK TWP N J BRD ED TAXABLE-REF-PENSION SER	5.625%	07/01/2020			98.499 / 98.499	5.80% / 5.80%	1	15

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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