<SEC-DOCUMENT>0000818972-13-000001.txt : 20130228
<SEC-HEADER>0000818972-13-000001.hdr.sgml : 20130228
<ACCEPTANCE-DATETIME>20130228124731
ACCESSION NUMBER:		0000818972-13-000001
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20121231
FILED AS OF DATE:		20130228
DATE AS OF CHANGE:		20130228
EFFECTIVENESS DATE:		20130228

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DREYFUS STRATEGIC MUNICIPALS INC
		CENTRAL INDEX KEY:			0000818972
		IRS NUMBER:				133426554
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05245
		FILM NUMBER:		13650514

	BUSINESS ADDRESS:	
		STREET 1:		THE DREYFUS CORPORATION
		STREET 2:		200 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
		BUSINESS PHONE:		2129228297

	MAIL ADDRESS:	
		STREET 1:		DREYFUS CORP
		STREET 2:		200 PARK AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10166
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>formnq-853.htm
<DESCRIPTION>FORM N-Q
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<P style="MARGIN: 0in 0in 24pt; TEXT-ALIGN: center"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, D.C.&nbsp; 20549</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">FORM N-Q</FONT></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT<BR>INVESTMENT COMPANY</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Investment Company Act file number</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">811-5245</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Dreyfus Strategic Municipals, Inc.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">(Exact name of Registrant as specified in charter)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">c/o The Dreyfus Corporation</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">200 Park Avenue</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">New York, New York 10166</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">(Address of principal executive offices) (Zip code)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Janette E. Farragher, Esq.</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">200 Park Avenue</FONT></P>

   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">New York, New York 10166</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">(Name and address of agent for service)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Registrant's telephone number, including area code: </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">(212) 922-6000</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date of fiscal year end:</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">9/30</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date of reporting period:</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">12/31/12</FONT></P></TD>

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<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">FORM N-Q</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Item 1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schedule of Investments.</FONT></B></P>

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   <TD style="TEXT-INDENT: 0.36pt" align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>STATEMENT OF INVESTMENTS</FONT></B>&nbsp;</TD></TR>

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   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Dreyfus Strategic Municipals, Inc.</FONT></B>&nbsp;</TD></TR>

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   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>December 31, 2012 (Unaudited)</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

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   <TD style="TEXT-INDENT: 0.119pt" align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Long-Term Municipal</FONT></B>&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Coupon</FONT></B>&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Maturity</FONT></B>&nbsp;</TD>

   <TD align=right width="24%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Principal</FONT></B></TD>

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   <TD style="TEXT-INDENT: 0.119pt; BORDER-BOTTOM: #000000 3px double" align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Investments--145.0%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="13%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Rate (%)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="13%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Date</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="24%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Amount ($)</FONT></B></TD>

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   <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="15%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Value ($)</FONT></B>&nbsp;</TD></TR>

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   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Alabama--.7%</FONT></B>&nbsp;</TD>

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   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Jefferson County,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

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   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Limited Obligation School</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Warrants</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/17</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,020,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,020,970</FONT>&nbsp;</TD></TR>

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   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Jefferson County,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

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   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Limited Obligation School</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Warrants</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/24</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,958,620</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Alaska--1.8%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Northern Tobacco Securitization</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation of Alaska, Tobacco</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Settlement Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/46</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12,190,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,580,432</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Arizona--6.4%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Apache County Industrial</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Authority, PCR</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Tucson Electric Power Company</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3/1/30</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,192,720</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Arizona Housing Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>SFMR (Mortgage-Backed</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Securities Program)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>and GNMA)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.55</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/41</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,610,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,884,829</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (Salt River Project</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Agricultural Improvement and</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Power District, Salt River</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Project Electric System</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/38</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>17,210,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>19,301,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Glendale Western Loop 101 Public</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Facilities Corporation, Third</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Lien Excise Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Prerefunded)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/14</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,293,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Pima County Industrial Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Education Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(American Charter Schools</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Foundation Project)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.63</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/38</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,410,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,252,628</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Salt Verde Financial Corporation,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Senior Gas Revenue</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/37</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>558,890</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>California--18.0%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (Los Angeles</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Department of Airports, Senior</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Los Angeles</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>International Airport))</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5/15/31</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,247,500</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,058,756</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.75</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4/1/31</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,800,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12,760,524</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="31%"></TD>

   <TD width="13%"></TD>

   <TD width="13%"></TD>

   <TD width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4/1/33</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12,467,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>GO (Various Purpose)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>9,063,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California State Public Works</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Board, LR (The Regents of the</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>University of California)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Various University of</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California Projects)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4/1/34</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,495,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,855,929</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California Statewide Communities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Bentley School)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,090,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,279,668</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California Statewide Communities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Bentley School)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/50</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,910,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>d</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>260,690</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California Statewide Communities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Authority, Student</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Housing Revenue (CHF-Irvine,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>LLC-UCI East Campus</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Apartments, Phase II)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.75</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5/15/32</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,174,640</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Golden State Tobacco</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Securitization Corporation,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/27</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,876,520</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Golden State Tobacco</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Securitization Corporation,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.80</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/13</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,220,570</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Trust (California Educational</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(University of Southern</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California))</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/1/16</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,100,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,728,322</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Los Angeles Department of Water</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>and Power, Water System Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/43</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,756,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Sacramento County,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Airport System Subordinate and</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Passenger Facility Charges</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Grant Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,250,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,313,312</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>San Buenaventura,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Community Memorial</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health System)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/41</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,468,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>San Diego Public Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Financing Authority, Senior</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Sewer Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5/15/34</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,874,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Sonoma-Marin Area Rail Transit</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>District, Measure Q Sales Tax</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3/1/27</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,769,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Securitization Authority</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>of Southern California,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

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<DIV align=left>

<TABLE style="WIDTH: 797px; HEIGHT: 1219px" cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD width="13%"></TD>

   <TD width="13%"></TD>

   <TD width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Asset-Backed Bonds (San Diego</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>County Tobacco Asset</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Securitization Corporation)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/37</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,300,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,533,281</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tuolumne Wind Project Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Tuolumne Company</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.88</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/29</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,164,020</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Colorado--2.8%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Beacon Point Metropolitan</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>District, GO</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,025,840</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Colorado Educational and Cultural</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Facilities Authority, Charter</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>School Revenue (American</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Academy Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,301,990</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Colorado Health Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue (Catholic</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health Initiatives)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2/1/41</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,662,160</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Colorado Housing and Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Single Family</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Program Senior and Subordinate</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Bonds (Collateralized; FHA)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.60</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8/1/32</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>795,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>843,948</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Southlands Metropolitan District</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Number 1, GO (Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.13</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/14</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,256,620</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Delaware--.9%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Delaware Economic Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Exempt Facility</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Indian River Power</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>LLC Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.38</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/1/45</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,412,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Florida--7.1%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Citizens Property Insurance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation, Personal Lines</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Account/Commercial Lines</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Account Senior Secured Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/22</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,465,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,392,411</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Clearwater,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Water and Sewer Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/39</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,709,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Greater Orlando Aviation</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Airport Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/1/20</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>9,940,560</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Miami-Dade County,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Subordinate Special Obligation</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,931,865</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Mid-Bay Bridge Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Springing Lien Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/1/34</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,727,340</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Saint Johns County Industrial</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Presbyterian Retirement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Communities Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8/1/45</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,318,025</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Georgia--5.5%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Atlanta,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Airport General Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/26</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,723,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Atlanta,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Water and Wastewater Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/27</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,402,560</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Atlanta,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="35%"></TD>

   <TD width="10%"></TD>

   <TD width="13%"></TD>

   <TD width="23%"></TD>

   <TD align=right width="16%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Water and Wastewater Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/34</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,574,760</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Brooks County Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Senior Health and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Housing Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Presbyterian Home, Quitman,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Inc.) (Collateralized; GNMA)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.70</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/20/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,445,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,669,517</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Fulton County Development</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue (Georgia</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tech North Avenue Apartments</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Project) (Insured; XLCA)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,300,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,545,479</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Georgia Higher Education</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(USG Real Estate Foundation I,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>LLC Project) (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/15/38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,801,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Hawaii--.9%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Hawaii Department of Budget and</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Finance, Special Purpose</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Hawai'i Pacific</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.75</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/40</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,415,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,973,807</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Idaho--.9%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Power County Industrial</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Corporation, SWDR</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(FMC Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.45</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,008,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Illinois--4.3%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Chicago,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>General Airport Third Lien</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Chicago O'Hare</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>International Airport)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.63</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/35</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,874,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Chicago,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/38</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,500,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,038,020</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Greater Chicago Metropolitan Water</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Reclamation District, GO</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Capital Improvement Limited</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tax Bonds</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,500,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8,953,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Railsplitter Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/28</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,050,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,092,168</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Indiana--2.4%</FONT></B>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Indiana Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Educational Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Butler University Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2/1/32</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,110,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,273,483</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Indiana Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Midwestern Disaster Relief</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Ohio Valley Electric</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,174,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Indiana Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Marquette Project)</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3/1/39</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,400,000</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,435,616</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Indianapolis Local Public</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Improvement Bond Bank, Revenue</FONT>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD>

   <TD align=right>&nbsp;</TD></TR></TABLE></DIV>

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<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Indianapolis Airport</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority Project) (Insured;</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>AMBAC)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/36</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,730,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Iowa--.3%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement Authority of</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Iowa, Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.60</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/34</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,997,420</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Kansas--.2%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Sedgwick and Shawnee Counties,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>SFMR (Mortgage-Backed</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Securities Program)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Collateralized: FNMA and GNMA)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.70</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,035,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,086,533</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Kentucky--.5%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Louisville/Jefferson County Metro</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Government, Health Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Jewish Hospital and</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Saint Mary's HealthCare, Inc.</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Project) (Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.13</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2/1/18</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,300,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,906,257</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Louisiana--1.6%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Lakeshore Villages Master</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Community Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>District, Special Assessment</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/17</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,979,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>e</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,192,464</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Louisiana Local Government</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Environmental Facilities and</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Community Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue (Westlake</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Chemical Corporation Projects)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.75</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/32</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,870,590</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Maine--.7%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Maine Health and Higher</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(MaineGeneral Medical Center</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Issue)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/32</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,816,150</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Maryland--.5%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Maryland Economic Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation, Student Housing</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (University of</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Maryland, College Park</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Project) (Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/13</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,078,480</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Massachusetts--8.7%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (Massachusetts Health</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>and Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Massachusetts Institute of</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Technology Issue))</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/38</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>13,110,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>14,936,878</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Trust (Massachusetts,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Consolidated Loan)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4/1/19</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8,600,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,402,388</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Trust (Massachusetts</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

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<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="13%"></TD>

   <TD width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Finance Agency,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Harvard University</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Issue))</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2/1/34</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12,144,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Massachusetts Development Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Agency, Revenue (Partners</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>HealthCare System Issue)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/36</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,703,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Massachusetts Health and</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue (Suffolk</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>University Issue)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/30</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,650,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,594,567</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Michigan--9.0%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Charyl Stockwell Academy,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>COP</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.90</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,580,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,402,883</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Detroit,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Sewage Disposal System Senior</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Lien Revenue (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/27</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,097,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Detroit,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Sewage Disposal System Senior</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Lien Revenue (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/33</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,700,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,137,654</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Detroit,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Water Supply System Senior</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Lien Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/31</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,237,930</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Detroit School District,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>School Building and Site</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Improvement Bonds (GO -</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Unlimited Tax) (Insured; FGIC)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5/1/13</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,930,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,992,330</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Detroit Water and Sewerage</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Department, Senior Lien Sewage</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Disposal System Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/39</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,162,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Kent Hospital Finance Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Metropolitan Hospital</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,930,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,046,175</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Michigan Hospital Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, HR (Henry Ford</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health System)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.63</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/15/29</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,813,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Michigan Strategic Fund,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>SWDR (Genesee Power Station</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/21</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,400,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,399,896</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Royal Oak Hospital Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, HR (William</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Beaumont Hospital Obligated</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Group)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>9/1/39</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,041,980</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Wayne County Airport Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Airport Revenue (Detroit</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Metropolitan Wayne County</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Airport) (Insured; National</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Public Finance Guarantee Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/34</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,435,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,552,958</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Minnesota--2.0%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Dakota County Community</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<DIV align=left>

<TABLE style="WIDTH: 791px; HEIGHT: 1210px" cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD width="13%"></TD>

   <TD width="13%"></TD>

   <TD width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Agency, SFMR</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Mortgage-Backed Securities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Program) (Collateralized:</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>FHLMC, FNMA and GNMA)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.15</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/38</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>734,592</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>760,560</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Dakota County Community</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Agency, SFMR</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Mortgage-Backed Securities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Program) (Collateralized:</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>FHLMC, FNMA and GNMA)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.30</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/39</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>830,164</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>878,737</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Minneapolis,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health Care System Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Fairview Health Services)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/15/38</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,111,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Saint Paul Housing and</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Redevelopment Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Hospital Facility Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(HealthEast Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.15</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/15/20</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,310,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,476,361</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Mississippi--2.7%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Mississippi Business Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation, PCR (System</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Energy Resources, Inc. Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.88</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4/1/22</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>9,310,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>9,338,116</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Mississippi Development Bank,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Special Obligation Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Magnolia Regional Health</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Center Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/1/31</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,115,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Missouri--.4%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Missouri Development Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Board, Infrastructure</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Independence, Crackerneck</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Creek Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3/1/28</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,054,920</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Nevada--1.0%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Clark County,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Passenger Facility Charge</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Las Vegas-McCarran</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>International Airport)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/30</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,655,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>New Jersey--4.9%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Higher Education Student</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Assistance Authority, Senior</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Student Loan Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/18</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,836,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Cigarette Tax</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.75</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/15/14</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,500,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,935,545</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New Jersey Economic Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Special Facility</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Continental Airlines,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Inc. Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.13</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>9/15/23</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,008,610</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New Jersey Higher Education</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Student Assistance Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Student Loan Revenue (Insured;</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Assured Guaranty Municipal</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="31%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.13</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/30</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,580,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement Financing</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation of New Jersey,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/23</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,455,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,450,876</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement Financing</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation of New Jersey,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/41</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,006,265</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement Financing</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation of New Jersey,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Prerefunded)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/13</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,140,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,228,768</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>New Mexico--1.5%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Farmington,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>PCR (Public Service Company of</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New Mexico San Juan Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.90</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,803,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New Mexico Mortgage Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Single Family</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Mortgage Program Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>and GNMA)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.15</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>570,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>603,807</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>New York--13.1%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (New York City</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Municipal Water Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Water and Sewer</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>System General Resolution</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/15/39</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>20,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>22,886,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (New York City</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Transitional Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Subordinate Revenue)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/27</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,146,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Trust (New York City</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Transitional Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Subordinate Revenue)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/18</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,092,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Metropolitan Transportation</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Transportation</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/28</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,919,475</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New York City Educational</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Construction Fund, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4/1/27</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,490,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,742,171</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New York City Industrial</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Agency, PILOT</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Yankee Stadium</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Project) (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3/1/49</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,107,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New York City Transitional Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Future Tax Secured</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<DIV align=left>

<TABLE style="WIDTH: 787px; HEIGHT: 1220px" cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Subordinate Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/38</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,570,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New York State Dormitory</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue (Orange</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Regional Medical Center</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.13</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/29</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,625,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,286,669</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New York State Dormitory</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue (Orange</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Regional Medical Center</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/37</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,770,075</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Niagara Area Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation, Solid Waste</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Disposal Facility Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Covanta Energy Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/42</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,067,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Port Authority of New York and New</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Jersey, Special Project Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(JFK International Air</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Terminal LLC Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/36</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,382,680</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Ohio--4.2%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Buckeye Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Financing Authority, Tobacco</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Settlement Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.88</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/30</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,744,730</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Buckeye Tobacco Settlement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Financing Authority, Tobacco</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Settlement Asset-Backed Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.88</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/47</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,300,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,071,380</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Butler County,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Hospital Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(UC Health)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,893,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Canal Winchester Local School</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>District, School Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Construction and Improvement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>and Advance Refunding Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(GO - Unlimited Tax) (Insured;</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>National Public Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guarantee Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/29</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,955,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>d</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,104,297</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Canal Winchester Local School</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>District, School Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Construction and Improvement</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>and Advance Refunding Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(GO - Unlimited Tax) (Insured;</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>National Public Finance</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guarantee Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/31</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,955,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>d</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,899,428</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Ohio Air Quality Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Air Quality Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Ohio Valley Electric</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.63</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/1/19</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,900,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,239,473</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Port of Greater Cincinnati</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Authority, Tax</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Increment Development Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Fairfax Village Red Bank</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Infrastructure Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.63</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2/1/36</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,564,310</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Toledo-Lucas County Port</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Airport Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

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<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Baxter Global Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/13</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,200,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,203,888</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Toledo-Lucas County Port</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Special Assessment</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Crocker Park Public</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Improvement Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.38</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,130,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Oregon--.6%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Warm Springs Reservation</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Confederated Tribes,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Hydroelectric Revenue (Pelton</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Round Butte Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.38</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/33</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,300,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,469,224</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Pennsylvania--1.9%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>JPMorgan Chase Putters/Drivers</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Trust (Geisinger Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health System Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Geisinger Health System))</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.13</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,372,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Pennsylvania Economic Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Financing Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Unemployment Compensation</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/18</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,560,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,113,549</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Philadelphia,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>GO</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8/1/41</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,550,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,334,514</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Rhode Island--1.1%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Rhode Island Health and</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Educational Building</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation, Hospital</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Financing Revenue (Lifespan</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Obligated Group Issue)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5/15/39</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,049,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>South Carolina--4.0%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (Columbia, Waterworks</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>and Sewer System Revenue)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,532,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>South Carolina Public Service</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue Obligations</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/38</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,538,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Tennessee--3.4%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (Rutherford County</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health and Educational</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Facilities Board, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Ascension Health Senior</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Credit Group))</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/15/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,251,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Metropolitan Government of</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Nashville and Davidson County</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health and Educational</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Facilities Board, Revenue (The</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Vanderbilt University)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/1/34</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8,346,940</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Texas--10.3%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (Leander Independent</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>School District, Unlimited Tax</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>School Building Bonds</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD width="13%"></TD>

   <TD width="13%"></TD>

   <TD width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Permanent School Fund</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guarantee Program))</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8/15/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8,510,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>9,647,617</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Clifton Higher Education Finance</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation, Education Revenue</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Uplift Education)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/30</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,880,275</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Dallas and Fort Worth,</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Joint Improvement Revenue</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Dallas/Fort Worth</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>International Airport)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/42</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,781,120</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Dallas Area Rapid Transit,</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Senior Lien Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/48</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,459,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Gulf Coast Industrial Development</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, SWDR (CITGO</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Petroleum Corporation Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4.88</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5/1/25</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,015,060</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Harris County Health Facilities</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Corporation, HR</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Memorial Hermann Healthcare</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>System)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/35</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,493,860</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Houston,</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Combined Utility System First</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Lien Revenue (Insured; Assured</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guaranty Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/15/36</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,132,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>North Texas Tollway Authority,</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>First Tier System Revenue</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Insured; Assured Guaranty</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Municipal Corp.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.75</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,300,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,819,868</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>North Texas Tollway Authority,</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Second Tier System Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.75</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/38</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,104,395</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Pasadena Independent School</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>District, Unlimited Tax School</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Building Bonds (Permanent</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>School Fund Guarantee Program)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2/15/31</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,175,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,820,223</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Texas Department of Housing and</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Community Affairs, Home</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Collateralized: FHLMC, FNMA</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>and GNMA)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12.72</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/2/24</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>450,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>f</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>479,439</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Vermont--.4%</FONT></B>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Burlington,</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Airport Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/18</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,130,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,114,217</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Virginia--5.1%</FONT></B>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (Virginia Small</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Business Financing Authority,</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health Care Facilities Revenue</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Sentara Healthcare))</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,054,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Chesterfield County Economic</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Development Authority,</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Retirement Facilities First</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Mortgage Revenue (Brandermill</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Woods Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.13</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/43</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,527,475</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Virginia Commonwealth</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<DIV align=left>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD width="13%"></TD>

   <TD width="13%"></TD>

   <TD width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Transportation Board,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Transportation Capital</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Projects Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5/15/21</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8,565,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,842,776</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Virginia Commonwealth</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Transportation Board,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Transportation Capital</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Projects Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5/15/22</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,840,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,888,090</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Washington--4.7%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (King County, Limited</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tax GO (Payable from Sewer</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenues))</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.13</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/33</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,599,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Barclays Capital Municipal Trust</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Receipts (King County, Sewer</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/29</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,998,716</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a,b</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,733,796</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Washington Health Care Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Highline Medical Center)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Collateralized; FHA)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8/1/36</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,975,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,103,140</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Washington Higher Education</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Seattle University Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Insured; AMBAC)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11/1/37</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,374,910</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>West Virginia--.8%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>The County Commission of Harrison</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>County, SWDR (Allegheny Energy</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Supply Company, LLC Harrison</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Station Project)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>10/15/37</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,118,720</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>West Virginia Water Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Water Development</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Insured; AMBAC)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.38</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/39</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,250,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,255,760</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Wisconsin--1.1%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Public Finance Agency,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Senior Airport Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue (Transportation</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Infrastructure Properties, LLC</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Obligated Group)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/42</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,072,680</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Wisconsin Health and Educational</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Facilities Authority, Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Aurora Health Care, Inc.)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.40</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4/15/33</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,017,220</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Wyoming--1.0%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Wyoming Municipal Power Agency,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Power Supply System Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/33</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,360,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,666,540</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Wyoming Municipal Power Agency,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Power Supply System Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.38</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/1/42</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,750,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,089,872</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>U.S. Related--7.6%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guam,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>LOR (Section 30)</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.75</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>12/1/34</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,246,180</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guam Housing Corporation,</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>SFMR (Guaranteed</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Mortgage-Backed Securities</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Program) (Collateralized;</FONT>&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="13%">&nbsp;</TD>

   <TD align=left width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

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<TABLE style="WIDTH: 790px; HEIGHT: 1218px" cellSpacing=0 border=0>



<TR>

   <TD width="31%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="13%"></TD>

   <TD align=right width="24%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>FHLMC)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.75</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>9/1/31</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>965,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,094,995</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guam Waterworks Authority,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Water and Wastewater System</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.63</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,109,340</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puerto Rico Aqueduct and Sewer</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Senior Lien Revenue</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.13</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/37</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6,846,825</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Public Improvement GO</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/32</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,022,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Public Improvement GO</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/39</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,610,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,653,051</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puerto Rico Commonwealth,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Public Improvement GO</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.50</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,390,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,549,724</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puerto Rico Electric Power</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Power Revenue</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.25</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/40</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,480,225</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puerto Rico Electric Power</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Power Revenue</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>7/1/42</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>3,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,855,760</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puerto Rico Sales Tax Financing</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation, Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(First Subordinate Series)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.38</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8/1/38</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5,147,100</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puerto Rico Sales Tax Financing</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation, Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(First Subordinate Series)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>5.38</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8/1/39</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,500,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,566,475</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puerto Rico Sales Tax Financing</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Corporation, Sales Tax Revenue</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(First Subordinate Series)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>6.00</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>8/1/42</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,000,000</FONT></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>11,778,690</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Total Long-Term Municipal Investments</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(cost $746,798,204)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=right width="15%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>832,201,934</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.119pt" align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Short-Term Municipal</FONT></B>&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Coupon</FONT></B>&nbsp;</TD>

   <TD align=right width="13%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Maturity</FONT></B>&nbsp;</TD>

   <TD align=right width="24%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Principal</FONT></B></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.119pt; BORDER-BOTTOM: #000000 3px double" align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Investments--2.6%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="13%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Rate (%)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="13%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Date</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="24%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Amount ($)</FONT></B></TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="15%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=2>Value ($)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>California--.9%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>GO Notes</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Kindergarten-University)</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(LOC; Citibank NA)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.10</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/2/13</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,200,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>g</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,200,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Irvine Assessment District Number</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>03-19, Limited Obligation</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Improvement Bonds (LOC:</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>California State Teachers</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Retirement System and U.S.</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Bank NA)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.10</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/2/13</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,000,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>g</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1,000,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Massachusetts--.4%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Massachusetts Health and</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Educational Facilities</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Authority, Revenue (Stonehill</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>College Issue) (LOC; JPMorgan</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Chase Bank)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.12</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/2/13</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,100,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>g</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,100,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>New York--.9%</FONT></B>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New York City,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>GO Notes (LOC; JPMorgan Chase</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Bank)</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 26.04pt" align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.12</FONT>&nbsp;</TD>

   <TD align=right width="13%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/2/13</FONT>&nbsp;</TD>

   <TD align=right width="24%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>700,000</FONT></TD>

   <TD align=left width="3%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>g</FONT>&nbsp;</TD>

   <TD align=right width="15%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>700,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New York City,</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left width="31%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>GO Notes (LOC; JPMorgan Chase</FONT>&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="13%">&nbsp;</TD>

   <TD align=right width="24%">&nbsp;</TD>

   <TD align=left width="3%">&nbsp;</TD>

   <TD align=left width="15%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P></DIV>

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<DIV align=left>

<TABLE style="WIDTH: 806px; HEIGHT: 456px" cellSpacing=0 border=0>



<TR>

   <TD width="37%"></TD>

   <TD width="5%"></TD>

   <TD width="12%"></TD>

   <TD width="21%"></TD>

   <TD width="2%"></TD>

   <TD width="16%"></TD>

   <TD width="2%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Bank)</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.12</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/2/13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,100,000</FONT></TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>g</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>4,100,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New York City,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>GO Notes (LOC; JPMorgan Chase</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Bank)</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.12</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/2/13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>200,000</FONT></TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>g</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>200,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>New York City,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>GO Notes (LOC; JPMorgan Chase</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Bank)</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.12</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/2/13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>400,000</FONT></TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>g</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>400,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Pennsylvania--.4%</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Geisinger Authority,</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Health System Revenue</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Geisinger Health System)</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(Liquidity Facility; JPMorgan</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Chase Bank)</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>0.08</FONT>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>1/2/13</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,200,000</FONT></TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>g</FONT>&nbsp;</TD>

   <TD align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=1>2,200,000</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Total Short-Term Municipal Investments</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16.559pt" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(cost $14,900,000)</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>14,900,000</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Total Investments </FONT></B><FONT face=Arial,Arial,Helvetica,sans-serif size=1>(cost $761,698,204)</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>147.6</FONT></B></TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>%</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>847,101,934</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Liabilities, Less Cash and Receivables</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>(10.4</FONT></B></TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>%)</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>(59,386,289</FONT></B></TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Preferred Stock, at redemption value</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>(37.2</FONT></B></TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>%)</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>(213,750,000</FONT></B></TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>Net Assets Applicable to Common Shareholders</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>100.0</FONT></B></TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>%</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>573,965,645</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<TABLE cellSpacing=0 border=0>



<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>a</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Collateral for floating rate borrowings.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>b</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Securities exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2012, these securities were valued at $175,454,342 or 30.6% of net assets applicable to Common Shareholders.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>c</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=Arial,Arial,Helvetica,sans-serif size=1>These securities are prerefunded; the date shown represents the prerefunded date. Bonds which are prerefunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>d</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Security issued with a zero coupon. Income is recognized through the accretion of discount.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>e</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Non-income producing security; interest payments in default.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>f</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Inverse floater security--the interest rate is subject to change periodically. Rate shown is the interest rate in effect at December 31, 2012.</FONT></P></TD></TR>

<TR>

   <TD vAlign=top noWrap width="2%"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>g</FONT>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Variable rate demand note - rate shown is the interest rate in effect at December 31, 2012. Maturity date represents the next demand date, or the ultimate maturity date if earlier.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=1>At December 31, 2012, net unrealized appreciation on investments was $85,403,730 of which $88,430,068 related to appreciated investment securities and $3,026,338 related to depreciated investment securities. At December 31, 2012, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes.</FONT></P>

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<TR>

   <TD width="10%"></TD>

   <TD width="43%"></TD>

   <TD width="11%"></TD>

   <TD width="34%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.119pt; BORDER-BOTTOM: #000000 3px double" align=left colSpan=2><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Summary of Abbreviations</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>ABAG</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Association of Bay Area Governments</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>ACA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>American Capital Access</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>AGC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>ACE Guaranty Corporation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>AGIC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Asset Guaranty Insurance Company</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>AMBAC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>American Municipal Bond Assurance Corporation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>ARRN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Adjustable Rate Receipt Notes</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>BAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Bond Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>BPA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Bond Purchase Agreement</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>CIFG</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>CDC Ixis Financial Guaranty</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>COP</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Certificate of Participation</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>CP</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Commercial Paper</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>DRIVERS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Derivative Inverse Tax-Exempt Receipts</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>EDR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Economic Development Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>EIR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Environmental Improvement Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>FGIC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Financial Guaranty Insurance Company</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>FHA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Federal Housing Administration</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<TR>

   <TD width="9%"></TD>

   <TD width="38%"></TD>

   <TD width="13%"></TD>

   <TD width="38%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>FHLB</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Federal Home Loan Bank</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>FHLMC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Federal Home Loan Mortgage Corporation</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>FNMA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Federal National Mortgage Association</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>GAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Grant Anticipation Notes</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>GIC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Guaranteed Investment Contract</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>GNMA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Government National Mortgage Association</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>GO</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>General Obligation</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>HR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Hospital Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>IDB</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Industrial Development Board</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>IDC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Industrial Development Corporation</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>IDR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Industrial Development Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>LIFERS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Long Inverse Floating Exempt Receipts</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>LOC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Letter of Credit</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>LOR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Limited Obligation Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>LR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Lease Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>MERLOTS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Municipal Exempt Receipt Liquidity Option</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tender</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>MFHR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Multi-Family Housing Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>MFMR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Multi-Family Mortgage Revenue</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>PCR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Pollution Control Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>P-FLOATS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puttable Floating Option Tax-Exempts Receipts</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>PILOT</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Payment in Lieu of Taxes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>PUTTERS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Puttable Tax-Exempt Receipts</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>RAC</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue Anticipation Certificates</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>RAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue Anticipation Notes</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>RAW</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Revenue Anticipation Warrants</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>ROCS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Reset Option Certificates</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>RRR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Resources Recovery Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>SAAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>State Aid Anticipation Notes</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>SBPA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Standby Bond Purchase Agreement</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>SFHR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Single Family Housing Revenue</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>SFMR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Single Family Mortgage Revenue</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>SONYMA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>State of New York Mortgage Agency</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>SPEARS</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Short Puttable Exempt Adjustable Receipts</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>SWDR</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Solid Waste Disposal Revenue</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>TAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tax Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>TAW</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tax Anticipation Warrants</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>TRAN</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>Tax and Revenue Anticipation Notes</FONT>&nbsp;</TD>

   <TD align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=1>XLCA</FONT></B>&nbsp;</TD>

   <TD align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=1>XL Capital Assurance</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=3>The following is a summary of the inputs used as of December 31, 2012 in valuing the fund's investments:</FONT></P>

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<TR>

   <TD width="28%"></TD>

   <TD width="24%"></TD>

   <TD width="19%"></TD>

   <TD width="15%"></TD>

   <TD width="12%"></TD></TR>

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   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Level 3 -</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

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   <TD align=left>&nbsp;</TD>

   <TD align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Level 1 -</FONT></B>&nbsp;</TD>

   <TD align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Level 2 - Other</FONT></B>&nbsp;</TD>

   <TD align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Significant</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

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   <TD align=left>&nbsp;</TD>

   <TD align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Unadjusted Quoted</FONT></B>&nbsp;</TD>

   <TD align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Significant</FONT></B>&nbsp;</TD>

   <TD align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Unobservable</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

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   <TD style="BORDER-BOTTOM: #000000 3px double" align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Assets ($)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Prices</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Observable Inputs</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=center><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Inputs</FONT></B>&nbsp;</TD>

   <TD style="TEXT-INDENT: 42.5pt; BORDER-BOTTOM: #000000 3px double" align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>Total</FONT></B>&nbsp;</TD></TR>

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   <TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=3>Investments in Securities:</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

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   <TD style="BORDER-BOTTOM: #000000 3px double" align=left><FONT face=Arial,Arial,Helvetica,sans-serif size=3>Municipal Bonds</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=3>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=3>847,101,934</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=right><FONT face=Arial,Arial,Helvetica,sans-serif size=3>-</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 3px double" align=left><B><FONT face=Arial,Bold,Arial,Helvetica,sans-serif size=3>847,101,934</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>The Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) is the exclusive reference of authoritative U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Commission (&#8220;SEC&#8221;) under authority of federal laws are also sources </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>of authoritative GAAP for SEC registrants. The fund's financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Portfolio valuation: The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Various inputs are used in determining the value of the fund&#8217;s investments </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>relating to fair value measurements. These inputs are summarized in the three broad levels listed below:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Level 1&#8212;unadjusted quoted prices in active markets for </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>identical investments.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Level 2&#8212;other significant observable inputs (including quoted </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Level 3&#8212;significant unobservable inputs (including the fund&#8217;s own </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>assumptions in determining the fair value of investments).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>used to value the fund&#8217;s investments are as follows:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Investments in securities are valued each business day by an independent </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>pricing service (the &#8220;Service&#8221;) approved by the Board of </FONT><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Directors. Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are carried at fair value as determined by the Service, based on methods which include consideration of the following: yields or prices of municipal securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. All preceding securities are categorized as Level 2 in the hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>When market quotations or official closing prices are not readily available, <FONT face=Arial,Arial,Helvetica,sans-serif size=2>or are determined not to reflect accurately fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board of Directors. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized as Level 2 or 3 depending on the relevant inputs used.</FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>For restricted securities where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT face=Arial,Arial,Helvetica,sans-serif size=2>Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the Securities and Exchange Commission on Form N-CSR.</FONT></P></DIV>

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<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Item 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Controls and Procedures.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.</FONT></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.&nbsp; </FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.</FONT></P>

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<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">FORM N-Q</FONT></B></P>

<P style="MARGIN: 0in 0in 24pt; TEXT-ALIGN: center"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">SIGNATURES<BR><BR></FONT></B></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>

<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">Dreyfus Strategic Municipals, Inc.</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">By: <U>/s/<FONT style="FONT-SIZE: 11pt" face="Times New Roman">Bradley J. Skapyak</FONT></U></FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Bradley J. Skapyak</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">President</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date:</FONT></P></TD>

   <TD style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="90%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">February 26, 2013</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">By: <U>/s/<FONT style="FONT-SIZE: 11pt" face="Times New Roman">Bradley J. Skapyak</FONT></U></FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Bradley J. Skapyak</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">President</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date:</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">February 26, 2013</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">By: <U>/s/</U></FONT><FONT style="FONT-SIZE: 11pt" face="Times New Roman"><U>James Windels</U></FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">James Windels</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Treasurer</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Date:</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">February 26, 2013</FONT></P></TD></TR>

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<P style="MARGIN: 0in 0in 12pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">EXHIBIT INDEX</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt 0.5in"><FONT lang=EN-US style="FONT-SIZE: 11pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.&nbsp; (EX-99.CERT)</FONT></P></DIV>

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<DESCRIPTION>CERTIFIATION
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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION
302 CERTIFICATION</font></b></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">I, Bradley
J. Skapyak, certify that:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">1.&#160; I have reviewed this report
on Form N-Q of Dreyfus Strategic
Municipals, Inc.</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">2.&#160;
Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;
Based on my knowledge, the schedule of investments included in this report
fairly present in all material respects the investments of the registrant as of
the end of the fiscal quarter for which the report is filed;</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">4.&#160; The
registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of
1940) for the registrant and have:</font></p>

<p style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(a)
Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;</font></p>

<p style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(b)
Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles;</font></p>

<p style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(c)
Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and</font></p>

<p style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(d)
Disclosed in this report any change in the registrant's internal control over
financial reporting that occurred during the registrant's most recent fiscal
quarter that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting; </font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">5.&#160; The
registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):</font></p>

<p style="margin-left:.25in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(a)
All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to
adversely affect the registrant's ability to record, process, summarize, and
report financial information; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(b)
Any fraud, whether or not material, that involves management or other employees
who have a significant role in the registrant's internal control over financial
reporting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;margin-left:191.4pt;width:298.199982pt;">
 <tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">By:       </font><u><font face="Times New Roman" style="font-size:11.0pt;">/s/ Bradley J. Skapyak</font></u></p>
  </td>
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<tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            Bradley J. Skapyak</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            President</font></p>
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 </tr>
<tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date:    February 26, 2013</font></p>
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<p align=center style="margin-left:0in;margin-right:0in;text-align:center;"><b><font face="times new roman" lang=EN-US style="font-size:11.0pt;">SECTION 302
CERTIFICATION</font></b></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">I,
James Windels, certify that:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">1.&#160; I have reviewed this report
on Form N-Q of Dreyfus Strategic
Municipals, Inc.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.&#160; Based on my knowledge,
this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with
respect to the period covered by this report;</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">3.&#160;
Based on my knowledge, the schedule of investments included in this report
fairly present in all material respects the investments of the registrant as of
the end of the fiscal quarter for which the report is filed;</font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">4.&#160; The
registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of
1940) for the registrant and have:</font></p>

<p style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(a)
Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;</font></p>

<p style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(b)
Designed such internal control over financial reporting, or caused such
internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles;</font></p>

<p style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(c)
Evaluated the effectiveness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and</font></p>

<p style="margin-left:12.0pt;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(d)
Disclosed in this report any change in the registrant's internal control over
financial reporting that occurred during the registrant's most recent fiscal
quarter that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting; </font></p>

<p style="margin-left:0in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">5.&#160; The
registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):</font></p>

<p style="margin-left:.25in;margin-right:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(a)
All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to
adversely affect the registrant's ability to record, process, summarize, and
report financial information; and</font></p>

<p style="margin-bottom:.0001pt;margin-left:.25in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">(b)
Any fraud, whether or not material, that involves management or other employees
who have a significant role in the registrant's internal control over financial
reporting.</font></p>

<p style="margin-bottom:.0001pt;margin-left:.5in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;margin-left:191.4pt;width:298.199982pt;">
 <tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">By:       </font><u><font face="Times New Roman" style="font-size:11.0pt;">/s/ James
  Windels</font></u></p>
  </td>
 </tr>
<tr>
  <td valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            James Windels</font></p>
  </td>
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<tr>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">            Treasurer</font></p>
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date:    February 26, 2013</font></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>



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