<SEC-DOCUMENT>0001171200-11-001153.txt : 20111222
<SEC-HEADER>0001171200-11-001153.hdr.sgml : 20111222
<ACCEPTANCE-DATETIME>20111222134121
ACCESSION NUMBER:		0001171200-11-001153
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20111031
FILED AS OF DATE:		20111222
DATE AS OF CHANGE:		20111222
EFFECTIVENESS DATE:		20111222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC.
		CENTRAL INDEX KEY:			0000882150
		IRS NUMBER:				223144223
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06500
		FILM NUMBER:		111276908

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		800-441-7762

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MUNIYIELD NEW YORK INSURED FUND, INC.
		DATE OF NAME CHANGE:	20070612

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUNIYIELD NEW YORK INSURED FUND INC
		DATE OF NAME CHANGE:	19920717

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW YORK MUNIYIELD FUND INC
		DATE OF NAME CHANGE:	19600201
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>i00550_myn-nq.htm
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff">
        <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">UNITED STATES</font></p>

        <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">SECURITIES AND EXCHANGE COMMISSION </font></p>

        <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">Washington, D.C. 20549</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

        <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><b><font size="2">FORM N-Q</font></b></p>

        <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

        <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><b><font size="2">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY</font></b></p>

        <p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">Investment Company Act file number 811-06500 </font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in"><font size="2">Name of Fund: BlackRock MuniYield New York Quality Fund, Inc. (MYN)</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in"><font size="2">Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in"><font size="2">Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield New York Quality Fund, Inc., 55 East 52<sup>nd</sup> Street, New York, NY 10055</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in"><font size="2">Registrant&rsquo;s telephone number, including area code: (800) 882-0052, Option 4</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in"><font size="2">Date of fiscal year end: 07/31/2012</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in"><font size="2">Date of reporting period: 10/31/2011</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">Item 1 &ndash; Schedule of Investments</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.58in">&nbsp;</p>
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>
<!-- insert -->

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD ROWSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=3>Schedule of Investments</FONT> <FONT  SIZE=2>October 31,
 2011 (Unaudited)</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=2><B>BlackRock MuniYield New York Quality Fund, Inc. (MYN)</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=1><B> (Percentages shown are based on Net Assets)</B></FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT SIZE=2><B>New York &#151;
 113.8%<BR>
 </B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Corporate &#151; 3.9%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Industrial Development<BR>
 Agency, Refunding RB, Terminal One<BR>
 Group Association Project, AMT,<BR>
 5.50%, 1/01/24 (a)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,545,975</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York Liberty Development Corp.,<BR>
 RB, Goldman Sachs Headquarters,<BR>
 5.25%, 10/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,400</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,455,692</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Energy Research &amp;<BR>
 Development Authority, Refunding RB,<BR>
 Brooklyn Union Gas/Keyspan,<BR>
 Series A, AMT (FGIC), 4.70%, 2/01/24</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,884,283</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Suffolk County Industrial Development<BR>
 Agency New York, RB, Keyspan, Port<BR>
 Jefferson, AMT, 5.25%, 6/01/27</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,625</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,637,996</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Suffolk County Industrial Development<BR>
 Agency New York, Refunding RB,<BR>
 Ogden Martin System Huntington,<BR>
 AMT (AMBAC), 6.25%, 10/01/12</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>6,470</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>6,797,576</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>21,321,522</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>County/City/Special District/School District &#151; 35.0%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Amherst Development Corp., RB,<BR>
 University at Buffalo Foundation<BR>
 Faculty-Student Housing Corp.,<BR>
 Series A (AGM), 4.63%, 10/01/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,979,460</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>City of Buffalo New York, GO, School,<BR>
 Series D (NPFGC), 5.50%, 12/15/11</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,767,792</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>City of New York, GO:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series A-1, 5.00%, 8/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,950</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,089,756</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series D, 5.00%, 10/01/33</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>8,350</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>8,992,282</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>City of New York New York, GO,<BR>
 Refunding, Series E, 5.00%, 8/01/27</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,070</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,165,936</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>City of New York, New York, GO,<BR>
 Refunding, Series 02-B (AMBAC),<BR>
 7.00%, 2/01/18</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>70</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>70,377</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>County of Onondaga New York, RB,<BR>
 Syracuse University Project:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 12/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,190</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,290,995</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 12/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,150</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,231,799</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>New York (continued)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2><B>County/City/Special
 District/School District <BR>
 (continued)</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Dutchess County Resource Recovery<BR>
 Agency New York, RB, Solid Waste<BR>
 System, Series A (NPFGC), 5.40%,<BR>
 1/01/13</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,700</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,713,413</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Erie County Industrial Development<BR>
 Agency, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>City
 of Buffalo Project (AGM),<BR>
 5.75%, 5/01/12 (b)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,900</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,952,383</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>School
 District of Buffalo<BR>
 Project, Series A, 5.25%,<BR>
 5/01/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,305</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,489,239</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Erie County Industrial Development<BR>
 Agency, Refunding RB, School District<BR>
 of Buffalo Project, Series A, 5.25%,<BR>
 5/01/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,075,880</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Hudson Yards Infrastructure Corp., RB,<BR>
 Series A:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 2/15/47</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>737,723</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(AGM), 5.00%, 2/15/47</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,580</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,592,320</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(FGIC), 5.00%, 2/15/47</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>3,985</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>3,919,766</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(NPFGC), 4.50%, 2/15/47</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>17,525</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>15,890,268</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Industrial Development<BR>
 Agency, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Queens
 Baseball Stadium (AMBAC),<BR>
 5.00%, 1/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>11,800</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>10,236,146</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Queens
 Baseball Stadium (AMBAC),<BR>
 5.00%, 1/01/39</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,250</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,481,715</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Yankee
 Stadium (AGC), 6.38%,<BR>
 1/01/39</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,068,850</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Industrial Development<BR>
 Agency, RB, PILOT:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>CAB,
 Yankee Stadium (AGC), 6.56%,<BR>
 3/01/39 (c)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,073,100</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>CAB,
 Yankee Stadium (AGC), 6.51%,<BR>
 3/01/43 (c)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,330</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>702,369</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Queens
 Baseball Stadium (AMBAC),<BR>
 5.00%, 1/01/46</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,625</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,036,880</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Yankee
 Stadium (FGIC), 5.00%,<BR>
 3/01/46</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>9,650</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>9,223,084</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Yankee
 Stadium (NPFGC), 5.00%,<BR>
 3/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,678,060</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="100%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2><B>Portfolio
 Abbreviations </B></FONT></P>


 </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>To simplify the listings of
portfolio holdings in the Schedule of Investments, the names and descriptions
of many of the securities have been abbreviated according to the following
list: </FONT></P>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="10%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="90%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>AGC</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Assured Guaranty Corp.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>AGM</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Assured Guaranty Municipal
 Corp.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>AMBAC</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>American Municipal Bond
 Assurance Corp.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>AMT</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Alternative Minimum Tax
 (subject to)</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>BHAC</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Berkshire Hathaway
 Assurance Corp.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>BOCES</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Board of Cooperative
 Educational Services</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>CAB</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Capital Appreciation Bonds</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>ERB</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Education Revenue Bonds</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>FGIC</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Financial Guaranty
 Insurance Co.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>FHA</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Federal Housing
 Administration</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>GO</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>General Obligation Bonds</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>HFA</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Housing Finance Agency</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>IDRB</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Industrial Development
 Revenue Bonds</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>LRB</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Lease Revenue Bonds</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>MRB</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Mortgage Revenue Bonds</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>NPFGC</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>National Public Finance Guarantee Corp.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>PILOT</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Payment in Lieu of Taxes</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>RB</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Revenue Bonds</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>SONYMA</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>State of New York Mortgage
 Agency</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Syncora</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Syncora Guarantee</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>


<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="55%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>BLACKROCK
 MUNIYIELD NEW YORK QUALITY FUND, INC.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>OCTOBER 31, 2011</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>1</FONT></P>
</TD>
</TR>
</TABLE>


<BR>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD ROWSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=3>Schedule of Investments</FONT> <FONT  SIZE=2>(continued)</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=2><B>BlackRock MuniYield New York Quality Fund, Inc. (MYN)</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=1><B> (Percentages shown are based on Net Assets)</B></FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>New York (continued)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2><B>County/City/Special
 District/School District <BR>
 (concluded)</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Transitional Finance<BR>
 Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Fiscal
 2008, Series S-1,<BR>
 4.50%, 1/15/38</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,700</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,676,710</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Fiscal
 2009, Series S-1 (AGC),<BR>
 5.50%, 7/15/38</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>6,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>6,462,240</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Fiscal
 2009, Series S-4 (AGC),<BR>
 5.50%, 1/15/39</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,621,995</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Future
 Tax Secured, Series C (FGIC),<BR>
 5.00%, 2/01/33</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>12,395</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>12,992,935</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Future
 Tax Secured, Series E<BR>
 (NPFGC), 5.25%, 2/01/13 (b)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,445</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,593,876</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Future
 Tax Secured, Series E<BR>
 (NPFGC), 5.25%, 2/01/22</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>55</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>57,606</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 S-2 (AGM), 5.00%, 1/15/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,182,600</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 S-2 (NPFGC), 4.25%,<BR>
 1/15/34</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,980</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,845,091</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Transitional Finance<BR>
 Authority, Refunding RB, Series A<BR>
 (FGIC), 5.00%, 11/15/26</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,002,910</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York Convention Center<BR>
 Development Corp., RB, Hotel Unit<BR>
 Fee Secured (AMBAC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 11/15/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,527,945</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 11/15/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>31,600</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>32,072,104</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 11/15/44</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>14,470</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>14,601,243</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>North Country Development Authority,<BR>
 Refunding RB (AGM), 6.00%, 5/15/15</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>840</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>901,900</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Saint Lawrence County Industrial<BR>
 Development Agency, RB, Clarkson<BR>
 University Project, 5.38%, 9/01/41</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>530,340</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Sales Tax Asset Receivable Corp., RB,<BR>
 Series A (AMBAC), 5.00%, 10/15/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>11,200</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>11,986,016</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Syracuse Industrial Development<BR>
 Agency New York, RB, Carousel Center<BR>
 Project, Series A, AMT (Syncora),<BR>
 5.00%, 1/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,400</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,847,806</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Tompkins County Industrial<BR>
 Development Agency, RB, Civic Facility<BR>
 Cornell University Project, Series A,<BR>
 5.00%, 7/01/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>675</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>716,371</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR HEIGHT=30 STYLE='HEIGHT:22.5PT'>
 <TD HEIGHT=30 VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Town of Huntington New York, GO,<BR>
 Refunding (AMBAC):</FONT></P>
 </TD>
 <TD HEIGHT=30 VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD HEIGHT=30 VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD HEIGHT=30 VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD HEIGHT=30 VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD HEIGHT=30 VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD HEIGHT=30 VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD HEIGHT=30 VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.50%, 4/15/12</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>460</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>471,091</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.50%, 4/15/13</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>455</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>488,943</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Town of North Hempstead New York,<BR>
 GO, Refunding, Series B (NPFGC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>6.40%, 4/01/13</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,745</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,887,026</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>6.40%, 4/01/17</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>555</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>681,296</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>190,607,637</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Education &#151; 17.5%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>City of Troy New York, Refunding RB,<BR>
 Rensselaer Polytechnic, Series A,<BR>
 5.13%, 9/01/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,725</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,787,402</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>New York (continued)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Education (continued)</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Madison County Industrial Development<BR>
 Agency New York, RB, Colgate<BR>
 University Project, Series A (AMBAC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 7/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,410</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,637,490</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 7/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,675</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,766,164</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Monroe County Industrial Development<BR>
 Corp., RB, University of Rochester<BR>
 Project, Series B, 4.50%, 7/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,885</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,851,239</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Industrial Development<BR>
 Agency, RB, New York University<BR>
 Project (BHAC), 5.00%, 7/01/41</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,002,100</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Industrial Development<BR>
 Agency, Refunding RB, Nightingale-<BR>
 Bamford School (AMBAC), 5.25%,<BR>
 1/15/18</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,275</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,328,219</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Transitional Finance<BR>
 Authority, RB, Fiscal 2009, Series S-4<BR>
 (AGC), 5.50%, 1/15/33</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,997,310</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Trust for Cultural<BR>
 Resources, Refunding RB, Museum of<BR>
 Modern Art, Series 1A, 5.00%,<BR>
 4/01/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,071,100</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority,<BR>
 LRB, State University Dormitory<BR>
 Facilities, Series A, 5.00%, 7/01/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,035</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,126,555</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Convent
 of the Sacred Heart (AGM),<BR>
 5.75%, 11/01/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,075</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,247,018</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Cornell
 University, Series A,<BR>
 5.00%, 7/01/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,074,850</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Fordham
 University, Series A,<BR>
 5.00%, 7/01/28</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>325</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>348,400</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Fordham
 University, Series A,<BR>
 5.50%, 7/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,550</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,675,364</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>General
 Purpose, Series A,<BR>
 4.50%, 3/15/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,036,680</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Haverstraw
 King&#146;s Daughters<BR>
 Public Library, 4.00%,<BR>
 7/01/28</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>565</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>555,118</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Haverstraw
 King&#146;s Daughters<BR>
 Public Library, 4.00%,<BR>
 7/01/29</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>585</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>568,064</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Haverstraw
 King&#146;s Daughters<BR>
 Public Library, 4.00%,<BR>
 7/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>610</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>587,253</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Mount
 Sinai School Of<BR>
 Medicine, 5.13%, 7/01/39</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>665</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>678,253</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Mount
 Sinai School of Medicine at<BR>
 NYU (NPFGC), 5.00%, 7/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,100</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,261,170</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>New
 School (AGM), 5.50%,<BR>
 7/01/43</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,050</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,360,373</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>New
 York University, Series 1<BR>
 (AMBAC), 5.50%, 7/01/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,580</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,585,585</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>New
 York University, Series A<BR>
 (AMBAC), 5.00%, 7/01/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,705</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,959,044</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>New
 York University, Series B,<BR>
 5.00%, 7/01/34</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,057,970</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="55%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>BLACKROCK
 MUNIYIELD NEW YORK QUALITY FUND, INC.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>OCTOBER 31, 2011</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>2</FONT></P>
</TD>
</TR>
</TABLE>


<BR>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD ROWSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=3>Schedule of Investments <FONT  SIZE=2>(continued)</FONT></FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=2><B>BlackRock MuniYield New York Quality Fund, Inc. (MYN)</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=1><B> (Percentages shown are based on Net Assets)</B></FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>New York (continued)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Education (concluded)</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority, RB (concluded):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>New
 York University, Series C,<BR>
 5.00%, 7/01/38</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,089,720</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>State
 University Dormitory<BR>
 Facilities, Series A, 5.00%,<BR>
 7/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>800</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>841,888</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>State
 University Dormitory<BR>
 Facilities, Series A, 5.00%,<BR>
 7/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,200</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,497,752</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Rensselaer County Industrial<BR>
 Development Agency New York, RB,<BR>
 Polytechnic Institute, Series B<BR>
 (AMBAC), 5.50%, 8/01/22</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,255</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,259,292</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Tompkins County Development Corp.,<BR>
 RB, Ithaca College Project (AGM):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.50%, 7/01/33</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>541,090</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.25%, 7/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>860</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>910,611</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Troy Industrial Development Authority,<BR>
 RB, Rensselaer Polytechnic Institute<BR>
 Project, Series E, 5.20%, 4/01/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,280</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,325,577</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Trust for Cultural Resources, RB,<BR>
 Carnegie Hall, Series A:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>4.75%, 12/01/39</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>3,550</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>3,587,879</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 12/01/39</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,150</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,208,889</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Trust for Cultural Resources, Refunding<BR>
 RB, American Museum of Natural<BR>
 History, Series A (NPFGC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 7/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,863,905</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 7/01/44</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>509,330</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>95,198,654</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Health &#151; 10.4%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Dutchess County Industrial<BR>
 Development Agency, RB, Vassar<BR>
 Brothers Medical Center (AGC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.50%, 4/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>250</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>261,640</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.50%, 4/01/34</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>490</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>513,172</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Monroe County Industrial Development<BR>
 Corp., RB, Unity Hospital of Rochester<BR>
 Project (FHA), 5.50%, 8/15/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,650</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,010,514</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Health &amp; Hospital Corp.,<BR>
 Refunding RB, Health System,<BR>
 Series A, 5.00%, 2/15/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,200</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,298,472</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Industrial Development<BR>
 Agency, RB, Royal Charter, New York<BR>
 Presbyterian (AGM), 5.75%,<BR>
 12/15/29</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,970</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>8,167,337</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority,<BR>
 MRB, Montefiore Hospital (FGIC),<BR>
 5.00%, 8/01/33</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,523,250</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>

 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-LEFT:17.65PT'><FONT  SIZE=2>
 Healthcare, Series A, 5.00%,<BR>
 3/15/38</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>2,125,200</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>



 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.65PT; '><FONT SIZE=2>Hudson
 Valley Hospital (BHAC),<BR>
 5.00%, 8/15/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,764,355</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>New York (continued)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Health (concluded)</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority, RB (concluded):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>New
 York &amp; Presbyterian Hospital<BR>
 (AGM), 5.00%, 8/15/36 </FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,090,750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>New
 York University Hospitals<BR>
 Center, Series A, 5.75%,<BR>
 7/01/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>3,450</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>3,592,968</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>New
 York University Hospitals<BR>
 Center, Series A, 5.00%,<BR>
 7/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,444,335</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>New
 York University Hospitals<BR>
 Center, Series A, 6.00%,<BR>
 7/01/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,100</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,146,651</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>North
 Shore-Long Island<BR>
 Jewish Health System,<BR>
 Series A, 5.50%, 5/01/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,075</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,135,300</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>North
 Shore-Long Island<BR>
 Jewish Obligated Group,<BR>
 Series A, 5.00%, 5/01/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,030,080</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>North
 Shore-Long Island<BR>
 Jewish Obligated Group,<BR>
 Series A, 5.25%, 5/01/34</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>9,220</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>9,469,862</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority,<BR>
 Refunding RB, State Luke&#146;s Roosevelt<BR>
 Hospital (FHA), 4.90%, 8/15/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,900</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>2,925,723</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>56,499,609</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Housing &#151; 3.7%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Monroe County Industrial Development<BR>
 Agency, IDRB, Southview Towers<BR>
 Project, AMT (SONYMA):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>6.13%, 2/01/20</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>995</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,000,612</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>6.25%, 2/01/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,125</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,128,791</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Housing Development<BR>
 Corp., RB, AMT:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 A-1-A, 5.00%,<BR>
 11/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>733,800</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 A-1-A, 5.45%,<BR>
 11/01/46</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,335</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,281,520</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 C, 5.00%, 11/01/26</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,517,865</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 C, 5.05%, 11/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,004,300</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 H-1, 4.70%, 11/01/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,340</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,259,680</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 H-2-A, 5.20%,<BR>
 11/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>840</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>826,426</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 H-2-A, 5.35%, 5/01/41</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>600</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>577,632</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York Mortgage Agency, Refunding<BR>
 RB, AMT:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Homeowner
 Mortgage,</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 97, 5.50%, 4/01/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>945</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>945,274</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 133, 4.95%, 10/01/21</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>520</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>530,317</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 143, 4.85%, 10/01/27</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,100</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,079,628</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 143, 4.90%, 10/01/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>980</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>958,842</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 143 (NPFGC), 4.85%,<BR>
 10/01/27</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,485</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,490,765</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State HFA, RB, State Philips<BR>
 Housing, Series A, AMT (Fannie Mae),<BR>
 4.65%, 11/15/38</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,442,595</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>


<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="55%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>BLACKROCK
 MUNIYIELD NEW YORK QUALITY FUND, INC.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>OCTOBER 31, 2011</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>3</FONT></P>
</TD>
</TR>
</TABLE>


<BR>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>

<BR>



<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD ROWSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=3>Schedule of Investments <FONT  SIZE=2>(continued)</FONT></FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=2><B>BlackRock MuniYield New York Quality Fund, Inc. (MYN)</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=1><B> (Percentages shown are based on Net Assets)</B></FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>New York (continued)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Housing (concluded)</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Yonkers Industrial Development Agency<BR>
 New York, RB, Monastery Manor<BR>
 Associates LP Project, AMT (SONYMA),<BR>
 5.25%, 4/01/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,445</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>2,459,303</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>20,237,350</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>State &#151; 7.9%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority,<BR>
 ERB, Series C, 5.00%, 12/15/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,230</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,583,677</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Master
 BOCES Program Lease<BR>
 (AGC), 5.00%, 8/15/28</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,875,703</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Mental
 Health Services<BR>
 Facilities, Series B, 5.25%,<BR>
 2/15/14 (b)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,570</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,727,942</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Mental
 Health Services Facilities,<BR>
 Series C AMT (AGM), 5.40%,<BR>
 2/15/33</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,300</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,457,626</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>School
 Districts Financing Program,<BR>
 Series A (AGM), 5.00%, 10/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>550</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>571,654</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>School
 Districts Financing Program,<BR>
 Series C (AGM), 5.00%, 10/01/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,050</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,205,155</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>School
 Districts Financing Program,<BR>
 Series E (NPFGC), 5.75%,<BR>
 10/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>6,900</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,145,916</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Thruway Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Second
 General, Series B,<BR>
 5.00%, 4/01/27</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,612,620</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 A (AMBAC), 5.00%, 4/01/26</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,380</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,663,167</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Urban Development<BR>
 Corp., RB (NPFGC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Personal
 Income Tax, Series C-1,<BR>
 5.00%, 3/15/13 (b)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,190,530</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>State
 Personal Income Tax,<BR>
 State Facilities, Series A-1,<BR>
 5.00%, 3/15/29</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>5,287,200</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>43,321,190</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Tobacco &#151; 1.3%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Tobacco Settlement Financing Corp.<BR>
 New York, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 A-1 (AMBAC), 5.25%,<BR>
 6/01/20</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,312,550</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 B-1C, 5.50%, 6/01/22</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,900</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>2,026,179</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>7,338,729</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Transportation &#151; 22.5%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Hudson Yards Infrastructure Corp., RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(AGC), 5.00%, 2/15/47</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,300</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,311,567</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series A (AGM), 5.75%, 2/15/47</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>9,735</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>10,308,489</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series A (NPFGC), 5.00%, 2/15/47</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>550</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>551,480</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Metropolitan Transportation Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 2008C, 6.50%,<BR>
 11/15/28</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,200</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,746,400</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Transportation,
 Series D,<BR>
 5.25%, 11/15/29</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,073,610</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>New York (continued)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Transportation (concluded)</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Metropolitan Transportation Authority,<BR>
 Refunding RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 A, 5.13%, 1/01/29 </FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,553,600</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 A (AGM), 5.00%, 11/15/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,015</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,049,611</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 A (FGIC), 5.25%, 11/15/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,541,900</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 A (NPFGC), 5.13%,<BR>
 11/15/22</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,390</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,437,830</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 B, 5.00%, 11/15/34</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,581,120</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 C (AGM), 5.13%, 7/01/12 (b)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,640</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,693,218</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Transportation,
 Series F (NPFGC),<BR>
 5.25%, 11/15/12 (b)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,235</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,555,230</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Transportation,
 Series F (NPFGC),<BR>
 5.00%, 11/15/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>5,071,200</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Thruway Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series F (AMBAC), 5.00%, 1/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>6,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>6,346,260</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series G (AGM), 4.75%, 1/01/29</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,250</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,508,462</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series G (AGM), 4.75%, 1/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>9,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>9,302,130</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series G (AGM), 5.00%, 1/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,087,580</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series G (AGM), 5.00%, 1/01/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,030</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,074,032</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Niagara Falls Bridge Commission,<BR>
 Refunding RB, Bridge System, Series A<BR>
 (AGC), 4.00%, 10/01/19</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,900</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,044,267</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Niagara Frontier Transportation<BR>
 Authority New York, RB, Buffalo<BR>
 Niagara International Airport, Series B<BR>
 (NPFGC), 5.50%, 4/01/19</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,705</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,705,162</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Port Authority of New York &amp; New Jersey,<BR>
 RB, Consolidated:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>116th
 Series, 4.13%, 9/15/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,700</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,642,517</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>124th
 Series AMT (NPFGC), 5.00%,<BR>
 8/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>500,170</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>163rd
 Series, 5.00%, 7/15/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,670,750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Port Authority of New York &amp; New Jersey,<BR>
 RB, JFK International Air Terminal,<BR>
 Special Project, Series 6, AMT<BR>
 (NPFGC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>6.25%, 12/01/11</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,175</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,194,803</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>6.25%, 12/01/13</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,425</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,625,541</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>6.25%, 12/01/14</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,380</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,793,280</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.75%, 12/01/22</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>10,160</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>10,058,603</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.75%, 12/01/25</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>3,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>3,406,060</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Triborough Bridge &amp; Tunnel Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Sub-Series
 A (NPFGC),<BR>
 5.25%, 11/15/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>6,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>6,287,940</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Subordinate
 Bonds (AMBAC),<BR>
 5.00%, 11/15/28</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,965</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,028,745</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Triborough Bridge &amp; Tunnel Authority,<BR>
 Refunding RB, Series C,<BR>
 5.00%, 11/15/38</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>2,139,340</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>122,890,897</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="55%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>BLACKROCK
 MUNIYIELD NEW YORK QUALITY FUND, INC.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>OCTOBER 31, 2011</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>4</FONT></P>
</TD>
</TR>
</TABLE>

<BR>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD ROWSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=3>Schedule of Investments</FONT> <FONT  SIZE=2>(continued)</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=2><B>BlackRock MuniYield New York Quality Fund, Inc. (MYN)</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=1><B> (Percentages shown are based on Net Assets)</B></FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>New York (concluded)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Utilities &#151; 11.6%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Buffalo Sewer Authority New York,<BR>
 Refunding RB, Series F (NPFGC),<BR>
 6.00%, 7/01/13</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,275</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,370,118</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Long Island Power Authority, RB, Series A:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(AMBAC), 5.00%, 9/01/29</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>7,134,610</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(AGM) (AGM), 5.00%, 5/01/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,775</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,958,276</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Long Island Power Authority, Refunding RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>General,
 Series A (AGC), 6.00%,<BR>
 5/01/33</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,701,045</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>General,
 Series B (AGM), 5.00%,<BR>
 12/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,106,840</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Series
 A (AGC), 5.75%, 4/01/39</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,015</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,122,499</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Municipal Water Finance<BR>
 Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Second General Resolution,</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series FF, 5.00%, 6/15/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>1,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>1,612,950</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Second General Resolution,</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series GG, 5.00%, 6/15/39</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>1,057,690</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Second General Resolution,</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series HH, 5.00%, 6/15/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>9,900</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>10,683,882</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series B, 5.00%, 6/15/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,082,700</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series DD, 5.00%, 6/15/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>6,750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>7,147,035</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series DD (AGM), 4.50%, 6/15/39</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,006,790</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Municipal Water Finance<BR>
 Authority, Refunding RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Second
 General Resolution,<BR>
 Fiscal 2011, Series BB,<BR>
 5.00%, 6/15/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,075,300</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series D (AGM), 5.00%, 6/15/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>9,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>9,275,760</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Environmental Facilities<BR>
 Corp., RB, Revolving Funds, New York<BR>
 City Municipal Water, 5.00%,<BR>
 6/15/36</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,100</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,254,119</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Environmental Facilities<BR>
 Corp., Refunding RB, Revolving Funds,<BR>
 New York City Municipal Water,<BR>
 Series B, 5.00%, 6/15/33</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>1,040</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>1,104,282</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Power Authority, RB,<BR>
 Series A, 5.00%, 11/15/38</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,920</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>5,293,920</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>62,987,816</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Total Municipal Bonds in New York</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>620,403,404</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Guam &#151; 1.1%</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Transportation &#151; 0.8%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Guam International Airport Authority,<BR>
 Refunding RB, Series C, AMT (NPFGC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.25%, 10/01/21</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,240</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,242,128</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.25%, 10/01/22</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=2>2,050</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>2,051,681</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>4,293,809</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM >
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Utilities &#151; 0.3%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM >
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Guam Power Authority, Refunding RB,<BR>
 Series A (AGM), 5.00%, 10/01/37</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>1,380</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>1,423,001</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Total Municipal Bonds in Guam</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>5,716,810</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM  STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Puerto Rico &#151; 12.7%</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Housing &#151; 0.7%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Housing Finance Authority,<BR>
 Refunding RB, Subordinate, Capital<BR>
 Fund Modernization, 5.13%,<BR>
 12/01/27</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>3,500</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>3,626,980</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>State &#151; 7.2%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Commonwealth of Puerto Rico, GO,<BR>
 Refunding (NPFGC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Public
 Improvement, Series A,<BR>
 5.50%, 7/01/20</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,139,860</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Sub-Series C-7, 6.00%, 7/01/27</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,107,420</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Sub-Series C-7, 6.00%, 7/01/28</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,775</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>5,028,696</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Convention Center<BR>
 Authority, RB, Series A (AMBAC),<BR>
 5.00%, 7/01/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,250</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,154,758</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Highway &amp; Transportation<BR>
 Authority, Refunding RB, Series CC<BR>
 (AGM), 5.50%, 7/01/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,697,675</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Infrastructure Financing<BR>
 Authority, RB, Series A (c):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(AMBAC), 4.67%, 7/01/35</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,900</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>782,730</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(AMBAC), 5.02%, 7/01/43</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>8,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>890,640</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(FGIC), 4.62%, 7/01/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>22,030</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,037,762</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Public Buildings Authority,<BR>
 Refunding RB, Government Facilities<BR>
 Series M-3 (NPFGC), 6.00%, 7/01/28</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,850</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>2,999,767</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Sales Tax Financing Corp.,<BR>RB First Sub-Series A:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.63%, 8/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,096,320</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.75%, 8/01/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,150</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,495,130</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>(AGM), 5.00%, 8/01/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,100</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,136,771</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Sales Tax Financing Corp.,<BR>
 Refunding RB, CAB, Series A (NPFGC) (c):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.75%, 8/01/41</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>12,800</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,993,088</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.97%, 8/01/43</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>543,240</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>39,103,857</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Transportation &#151; 3.7%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Highway &amp; Transportation<BR>
 Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series G (FGIC), 5.25%, 7/01/13 (b)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,080,480</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series Y (AGM), 6.25%, 7/01/21</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,275</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,198,994</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Highway &amp; Transportation<BR>
 Authority, Refunding RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series AA-1 (AGM), 4.95%,<BR>
 7/01/12 (b)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,190</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,341,631</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series CC (AGM), 5.50%, 7/01/29</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,706,700</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series D, 5.75%, 7/01/12 (b)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>3,107,550</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>20,435,355</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Utilities &#151; 1.1%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Aqueduct &amp; Sewer Authority,<BR>
 RB, Senior Lien, Series A (AGC),<BR>
 5.13%, 7/01/47</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,950</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,974,570</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Electric Power Authority, RB,<BR>
 Series RR (NPFGC), 5.00%, 7/01/24</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>1,029,440</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="55%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>BLACKROCK
 MUNIYIELD NEW YORK QUALITY FUND, INC.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>OCTOBER 31, 2011</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>5</FONT></P>
</TD>
</TR>
</TABLE>

<BR>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD ROWSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=3>Schedule of Investments</FONT> <FONT  SIZE=2>(continued)</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=2><B>BlackRock MuniYield New York Quality Fund, Inc. (MYN)</B></FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P ALIGN=RIGHT><FONT SIZE=1><B> (Percentages shown are based on Net Assets)</B></FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Puerto Rico (concluded)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Utilities (concluded)</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Puerto Rico Electric Power Authority,<BR>
 Refunding RB, Series VV (NPFGC),<BR>
 5.25%, 7/01/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>3,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>3,075,420</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>6,079,430</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Total Municipal Bonds in Puerto Rico</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>69,245,622</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Total Municipal Bonds &#150; 127.6%</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>695,365,836</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=2>&nbsp;</FONT></P>



 </TD>
 </TR>
 <TR>
 <TD COLSPAN=8 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">


 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>
 </TD>
 </TR>

<tr>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
</tr>

 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds Transferred to
 Tender <BR>
 Option Bond (TOB) Trusts (d)<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>


 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:25.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=2><B>New York &#151; 28.4%<BR> </B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>County/City/Special District/School District &#151; 11.3%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>City of New York New York, GO:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series J, 5.00%, 5/15/23</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,750</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,295,940</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Sub-Series
 C-3 (AGC), 5.75%,<BR>
 8/15/28</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>14,400</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>16,477,632</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority, RB,<BR>
 State University Dormitory Facilities,<BR>
 Series A, 5.25%, 7/01/29</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>6,540,300</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Sales Tax Asset Receivable Corp., RB,<BR>
 Series A (AMBAC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.25%, 10/15/27</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>13,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>14,048,060</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 10/15/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>16,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>17,289,920</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
&nbsp;

 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>61,651,852</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Education &#151; 1.3%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority, RB,<BR>
 New York University, Series A, 5.00%,<BR>
 7/01/38</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>6,498</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>6,789,738</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>State &#151; 1.6%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Dormitory Authority,<BR>
 ERB, Series B, 5.75%, 3/15/36</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>7,850</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>8,874,268</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Transportation &#151; 12.8%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Metropolitan Transportation Authority,<BR>
 RB, Series A (NPFGC), 5.00%,<BR>
 11/15/31</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>3,901</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>4,097,375</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Metropolitan Transportation Authority,<BR>
 Refunding RB, Series A (AGM), 5.00%,<BR>
 11/15/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>8,460</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>8,587,408</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Thruway Authority, RB,<BR>
 Series G (AGM), 5.00%, 1/01/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>16,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>16,684,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York State Thruway Authority,<BR>
 Refunding RB, Series H (AGM), 5.00%,<BR>
 1/01/37</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>10,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>10,413,600</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Port Authority of New York &amp; New Jersey,<BR>
 RB, Consolidated, 155th Series, AMT<BR>
 (AGM), 5.13%, 7/15/30</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,500</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,576,850</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Municipal Bonds Transferred to
 Tender <BR>
 Option Bond (TOB) Trusts (d)<BR></B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Par<BR>
 (000)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Value</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>New York (concluded)</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Transportation (concluded)</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Triborough Bridge &amp; Tunnel Authority,<BR>
 Refunding RB (NPFGC):</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.25%, 11/15/23</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,000</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>7,274,190</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>5.00%, 11/15/32</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>19,677</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>20,286,459</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>69,919,882</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Utilities &#151; 1.4%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>New York City Municipal Water Finance<BR>
 Authority, RB:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT; '><FONT SIZE=2>Fiscal
 2009, Series A, 5.75%,<BR>
 6/15/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,094</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>4,613,585</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Series FF-2, 5.50%, 6/15/40</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>2,759</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>3,040,230</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>7,653,815</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2><B>Total
 Municipal Bonds Transferred to<BR>
 Tender Option Bond (TOB) Trusts &#150; 28.4%</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>154,889,555</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=2><B>Total
 Long-Term Investments<BR>
 (Cost &#150; $828,689,869) &#150; 156.0%</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>850,255,391</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD COLSPAN=8 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="66%" VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=1><B>Short-Term
 Securities</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Shares</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>&nbsp;</B></FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>BIF New York Municipal Money Fund,<BR>
 0.00% (e)(f)</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>11,150,487</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>11,150,487</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2><B>Total
 Short-Term Securities<BR>
 (Cost - $11,150,487) &#150; 2.0%</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>11,150,487</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2><B>Total
 Investments<BR>
 (Cost - $839,840,356*) &#150; 158.0%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>861,405,878</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Other Assets Less Liabilities &#150; 1.8%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>10,075,495</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Liability for TOB Trust Certificates, Including
 Interest<BR>
 Expense and Fees Payable &#150; (14.4)%</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>(78,665,496</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>)</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="PADDING-BOTTOM:1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>VRDP Shares, at Liquidation Value &#150; (45.4)%</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>(247,700,000</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2>)</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="PADDING-BOTTOM:3PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Net Assets Applicable to Common Shares &#150; 100.0%</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>545,115,877</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="5%" VALIGN=TOP STYLE="BORDER-BOTTOM:solid BLACK 1PX">
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="95%" VALIGN=TOP STYLE="BORDER-BOTTOM:solid BLACK 1PX">
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>*</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>The cost and unrealized
 appreciation (depreciation) of investments as of October 31, 2011, as
 computed for federal income tax purposes, were as follows: </FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="95%" style=margin-left:5%>
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="78%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM>
 <P ALIGN=RIGHT>&nbsp;</P>
 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="PADDING-BOTTOM:3PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Aggregate cost</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>761,680,671</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Gross unrealized appreciation</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2>32,859,431</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="PADDING-BOTTOM:1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Gross unrealized depreciation</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>(11,749,028</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2>)</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="PADDING-BOTTOM:3PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Net unrealized appreciation</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>21,110,403</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="5%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="95%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>(a)</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Variable rate security.
 Rate shown is as of report date. </FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>(b)</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>US government securities,
 held in escrow, are used to pay interest on this security as well as to
 retire the bond in full at the date indicated, typically at a premium to par.
 </FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>(c)</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Represents a zero-coupon
 bond. Rate shown reflects the current yield as of report date.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>(d)</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Securities represent bonds
 transferred to a TOB in exchange for which the Fund acquired residual
 interest certificates. These securities serve as collateral in a financing
 transaction. </FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="55%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>BLACKROCK
 MUNIYIELD NEW YORK QUALITY FUND, INC.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>OCTOBER 31, 2011</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>6</FONT></P>
</TD>
</TR>
</TABLE>

<BR>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="50%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 5PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD ROWSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=3>Schedule of Investments</FONT> <FONT  SIZE=2>(concluded)</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=2><B>BlackRock MuniYield New York Quality Fund, Inc. (MYN)</B></FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="5%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="95%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>(e)</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Investments in companies
 considered to be an affiliate of the Fund during the period, for purposes of
 Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as
 follows: </FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="95%" style=margin-left:5%>
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="30%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT>&nbsp;</P>


 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT>&nbsp;</P>


 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT>&nbsp;</P>


 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Affiliate</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>



 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Shares<BR>
 Held at<BR>
 July 31,<BR>
 2011</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Net</B><FONT  SIZE=1><B><BR>
 </B></FONT><FONT SIZE=1><B>Activity</B></FONT></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Shares<BR>
 Held at<BR>
 October 31,<BR>
 2011</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Income</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>BIF New York <BR>
 Municipal <BR>
 Money Fund</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>14,521,616</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>(3,371,129</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2>)</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>11,150,487</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="5%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="5%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="90%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>(f)</FONT></P>
 </TD>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>Represents the current
 yield as of report date.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>&#149;</FONT></P>
 </TD>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>For Fund compliance
 purposes, the Fund&#146;s sector classifications refer to any one or more of the
 sector sub-classifications used by one or more widely recognized market
 indexes or ratings group indexes, and/or as defined by Fund management. These
 definitions may not apply for purposes of this report, which may combine such
 sector sub-classifications for reporting ease.</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>&#149;</FONT></P>
 </TD>
 <TD COLSPAN=2 VALIGN=TOP>
 <P><FONT SIZE=2>Fair Value Measurements -
 Various inputs are used in determining the fair value of investments. These
 inputs are categorized into a disclosure hierarchy consisting of three broad
 levels for financial reporting purposes as follows:</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>&#149;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Level 1 &#151; unadjusted price
 quotations in active markets/exchanges for identical assets and liabilities</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>&#149;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Level 2 &#151; other observable
 inputs (including, but not limited to: quoted prices for similar assets or
 liabilities in markets that are active, quoted prices for identical or
 similar assets or liabilities in markets that are not active, inputs other
 than quoted prices that are observable for the assets or liabilities (such as
 interest rates, yield curves, volatilities, prepayment speeds, loss
 severities, credit risks and default rates) or other market-corroborated
 inputs)</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>&#149;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=2>Level 3 &#151; unobservable
 inputs based on the best information available in the circumstances, to the
 extent observable inputs are not available (including the Fund&#146;s own
 assumptions used in determining the fair value of investments)</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD COLSPAN=3 VALIGN=TOP>
 <P><FONT SIZE=2>Changes in valuation techniques
 may result in transfers in or out of an assigned level within the disclosure
 hierarchy. The categorization of a value determined for investments is based
 on the pricing transparency of the investment and does not necessarily
 correspond to the Fund&#146;s perceived risk of investing in those securities. For
 information about the Fund&#146;s policy regarding valuation of investments and
 other significant accounting policies, please refer to the Fund&#146;s most recent
 financial statements as contained in its annual report.</FONT></P>
 </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>The following table
summarizes the inputs used as of October 31, 2011 in determining the fair
valuation of the Fund&#146;s investments: </FONT></P>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="34%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT>&nbsp;</P>


 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT>&nbsp;</P>


 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT>&nbsp;</P>


 </TD>
 <TD WIDTH="3%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 <TD WIDTH="12%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT>&nbsp;</P>


 </TD>
 <TD WIDTH="1%" VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P>&nbsp;</P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1><B>Valuation Inputs</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Level 1</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Level 2</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Level 3</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD COLSPAN=2 VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1><B>Total</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Assets:</B></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Investments:</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P STYLE='MARGIN-LEFT:17.03PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Long-Term <BR>
 Investments<SUP>1</SUP></FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>850,255,391</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=2>$</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P ALIGN=RIGHT><FONT SIZE=2>850,255,391</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM STYLE="PADDING-BOTTOM:1PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2>Short-Term <BR>
 Securities</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM>
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>11,150,487</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P ALIGN=RIGHT><FONT SIZE=2>11,150,487</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
 <TR>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="PADDING-BOTTOM:3PX">
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT  SIZE=2><B>Total</B></FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
 <P><FONT SIZE=1>&nbsp;</FONT></P>
 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>11,150,487</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>850,255,391</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=2>$</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P ALIGN=RIGHT><FONT SIZE=2>861,405,878</FONT></P>


 </TD>
 <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6" STYLE="BORDER-BOTTOM:solid BLACK 2PX">
 <P><FONT SIZE=1>&nbsp;</FONT></P>


 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR STYLE="FONT-SIZE:1PX">
 <TD WIDTH="5%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 <TD WIDTH="95%" VALIGN=TOP>
 <P>&nbsp;</P>
 </TD>
 </TR>
 <TR>
 <TD VALIGN=TOP>
 <P STYLE="margin-top:-3px" ALIGN="CENTER"><FONT SIZE=2><SUP>1</SUP></FONT></P>
 </TD>
 <TD VALIGN=TOP>
 <P  style="margin-top:3px"><FONT SIZE=2>See above Schedule of
 Investments for values in each sector.</FONT></P>
 </TD>
 </TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="55%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="20%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>BLACKROCK
 MUNIYIELD NEW YORK QUALITY FUND, INC.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>OCTOBER 31, 2011</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>7</FONT></P>
</TD>
</TR>
</TABLE>

<!-- end -->
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">Item 2 &ndash; </font></p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">Controls and Procedures</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">2(a) &ndash; </font></p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">The registrant&rsquo;s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant&rsquo;s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &Prime;1940 Act&Prime;)) are effective as of a date within 90 days of the filing of this
                        report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">2(b) &ndash; </font></p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">There were no changes in the registrant&rsquo;s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant&rsquo;s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">Item 3 &ndash; </font></p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">Exhibits</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">Certifications &ndash; Attached hereto</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">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>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">BlackRock MuniYield New York Quality Fund, Inc.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="8%">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="top" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" width="5%"><font size="2">By:</font></td>

                    <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" width="25%"><font size="2">/s/ John M. Perlowski</font></td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p><font size="2">John M. Perlowski</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p><font size="2">Chief Executive Officer (principal executive officer) of</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p><font size="2">BlackRock MuniYield New York Quality Fund, Inc.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">Date: December 21, 2011</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">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>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom"><font size="2">By:</font></td>

                    <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom"><font size="2">/s/ John M. Perlowski</font></td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p><font size="2">John M. Perlowski</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p><font size="2">Chief Executive Officer (principal executive officer) of</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p><font size="2">BlackRock MuniYield New York Quality Fund, Inc.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">Date: December 21, 2011</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom"><font size="2">By:</font></td>

                    <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom"><font size="2">/s/ Neal J. Andrews</font></td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p><font size="2">Neal J. Andrews</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p><font size="2">Chief Financial Officer (principal financial officer) of</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p><font size="2">BlackRock MuniYield New York Quality Fund, Inc.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom">
                        <p>&nbsp;</p>
                    </td>

                    <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="bottom" colspan="2">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="bottom">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in">&nbsp;</p>
                    </td>

                    <td valign="bottom" colspan="3">
                        <p style="TEXT-ALIGN: left; LINE-HEIGHT: normal; TEXT-INDENT: 0pt; MARGIN: 0pt 0in"><font size="2">Date: December 21, 2011</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1in">&nbsp;</p>
        <hr align="center" size="4" width="100%" noshade>

    </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>i00550_ex99-cert.htm
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff">

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><b><font size="2">EX-99. CERT</font></b></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1.08in">&nbsp;</p>

        <p style="BORDER-BOTTOM: 0.75pt solid; TEXT-ALIGN: left; PADDING-BOTTOM: 10px; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><b><font size="2">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</font></b></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">I, John M. Perlowski, Chief Executive Officer (principal executive officer) of BlackRock MuniYield New York Quality Fund, Inc., certify that:</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock MuniYield New York Quality Fund, Inc.;</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the schedules 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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&rsquo;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated the effectiveness of the registrant&rsquo;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting;
        and</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&rsquo;s other certifying officer(s) and I have disclosed to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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&rsquo;s ability to record, process, summarize, and report financial information; and</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">Date: December 21, 2011 </font></p>

        <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr>
                <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="top" width="25%"><font size="2">/s/ John M. Perlowski</font></td>

                <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>
        </table>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">John M. Perlowski</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">Chief Executive Officer (principal executive officer) of </font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">BlackRock MuniYield New York Quality Fund, Inc.</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>
        <hr align="center" size="4" width="100%" noshade>

        <p style="PAGE-BREAK-BEFORE: always" align="left"></p>
        <PAGE>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><b><font size="2">EX-99. CERT</font></b></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; TEXT-INDENT: -0.5in; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1.08in">&nbsp;</p>

        <p style="BORDER-BOTTOM: 0.75pt solid; TEXT-ALIGN: left; PADDING-BOTTOM: 10px; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><b><font size="2">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</font></b></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock MuniYield New York Quality Fund, Inc., certify that:</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this report on Form N-Q of BlackRock MuniYield New York Quality Fund, Inc.;</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on my knowledge, the schedules 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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&rsquo;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;evaluated the effectiveness of the registrant&rsquo;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="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting;
        and</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&rsquo;s other certifying officer(s) and I have disclosed to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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&rsquo;s ability to record, process, summarize, and report financial information; and</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt; MARGIN-LEFT: 0.5in"><font size="2">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 11pt"><font size="2">Date: December 21, 2011 </font></p>

        <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%">
            <tr>
                <td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="top" width="25%"><font size="2">/s/ Neal J. Andrews</font></td>

                <td style="PADDING-BOTTOM: 0pt; PADDING-LEFT: 0pt; PADDING-RIGHT: 0pt; PADDING-TOP: 0pt" valign="top">
                    <p>&nbsp;</p>
                </td>
            </tr>
        </table>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">Neal J. Andrews</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">Chief Financial Officer (principal financial officer) of </font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt"><font size="2">BlackRock MuniYield New York Quality Fund, Inc.</font></p>

        <p style="TEXT-ALIGN: left; MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt">&nbsp;</p>
        <hr align="center" size="4" width="100%" noshade>
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</DOCUMENT>
</SEC-DOCUMENT>
