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<SEC-DOCUMENT>0000088053-09-000819.txt : 20090803
<SEC-HEADER>0000088053-09-000819.hdr.sgml : 20090801
<ACCEPTANCE-DATETIME>20090803145738
ACCESSION NUMBER:		0000088053-09-000819
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20090531
FILED AS OF DATE:		20090803
DATE AS OF CHANGE:		20090803
EFFECTIVENESS DATE:		20090803

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DWS MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0000839533
		IRS NUMBER:				363605060
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05655
		FILM NUMBER:		09979956

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	20010123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>sr053109mit.htm
<DESCRIPTION>DWS MUNICIPAL INCOME TRUST
<TEXT>
<HTML>
<HEAD>
<TITLE> </TITLE>
</HEAD>
<BODY bgcolor="#ffffff" style='font-family:"Times New Roman"'>

<div style='width:600;'>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>UNITED STATES</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>WASHINGTON, D. C. 20549</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>FORM N-CSRS</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="289" style='border-collapse:collapse; '>
    <tr >
        <td width="212" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Investment Company Act file number  </font></p> </td>
        <td width="77" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>811-05655</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:12pt;text-align:center;'><u><font size=2>DWS Municipal Income Trust</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2> (Exact Name of Registrant as Specified in Charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>345 Park Avenue</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>New York, NY 10154-0004</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2> (Address of Principal Executive Offices) (Zip Code)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Registrant&#146;s Telephone Number, including Area Code: </font><u><font size=2>(212) 454-7190</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Paul Schubert</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>345 Park Avenue</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><u><font size=2>New York, NY 10154-0004</font></u></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Name and Address of Agent for Service)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="193" style='border-collapse:collapse'>
    <tr >
        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date of fiscal year end:</font></p> </td>
        <td width="49" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>11/30</font></u></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="211" style='border-collapse:collapse; '>
    <tr >
        <td width="144" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date of reporting period:</font></p> </td>
        <td width="67" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>05/31/09</font></u></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><B><font SIZE=2>ITEM 1.</font></B><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><B><font SIZE=2>REPORT TO STOCKHOLDERS</font></B></p>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div TITLE="EE+ Page Break" STYLE="PAGE-BREAK-AFTER: always"><HR noshade align="center" width="100%" size="2">
</DIV>
</DIV>


<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_6">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_116" BGCOLOR="#0091ff" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_4" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
<P CLASS="CLASS_119" ALIGN="CENTER"><FONT COLOR="#ffffff">MAY 31, 2009</FONT>
</P>
<H1 CLASS="CLASS_115" ALIGN="CENTER"><FONT COLOR="#ffffff">Semiannual Report<BR>
to Shareholders</FONT></H1>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_116" BGCOLOR="#0091ff" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_4" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_116" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_4" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
<P CLASS="CLASS_120" ALIGN="CENTER"><B><FONT SIZE="+1" COLOR="#0091ff">DWS Municipal Income Trust</FONT></B>
</P>
<P CLASS="CLASS_9" ALIGN="CENTER"><FONT COLOR="#0091ff">Ticker Symbol: KTF</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD ALIGN="LEFT" VALIGN="BOTTOM"><IMG SRC="mit_cover190.gif" ALT="mit_cover190"></TD>
</TR>


</TABLE>
<P ID="mit.html.2" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff">Contents</FONT></B>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_6">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_116" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#perfsum">4</A></FONT></B><FONT COLOR="#000000">       Performance Summary</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#portsum">6</A></FONT></B><FONT COLOR="#000000">       Portfolio Summary</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#portfolio">7</A></FONT></B><FONT COLOR="#000000">     Investment Portfolio</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#fins">19</A></FONT></B><FONT COLOR="#000000"> Financial Statements</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#high">23</A></FONT></B><FONT COLOR="#000000"> Financial Highlights</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#notes">25</A></FONT></B><FONT COLOR="#000000">        Notes to Financial Statements</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#other">31</A></FONT></B><FONT COLOR="#000000">        Other Information</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#smr">33</A></FONT></B><FONT COLOR="#000000">  Shareholder Meeting Results</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#drp">34</A></FONT></B><FONT COLOR="#000000">  Dividend Reinvestment Plan</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#addinfo">36</A></FONT></B><FONT COLOR="#000000">      Additional Information</FONT>
</P>
<P CLASS="CLASS_117" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#0091ff">   <A HREF="#priv">37</A></FONT></B><FONT COLOR="#000000"> Privacy Statement</FONT>
</P>
</TD>
</TR>


</TABLE>
<P CLASS="CLASS_28" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Investments in funds involve risk. Certain investors' income may be subject to the federal
Alternative Minimum Tax (AMT), and federal, state and local taxes may apply. The fund
invests in individual bonds whose yields and market values fluctuate, so that your
investment may be worth more or less than its original cost. Bond investments are
subject to interest-rate risk such that, when interest rates rise, the prices of the bonds,
and thus the value of the bond investment, can decline and the investor can lose principal
value. Leverage results in additional risks and can magnify the effect of any losses. All of
these factors may result in greater share price volatility. Closed-end funds, unlike
open-end funds, are not continuously offered. There is an initial public offering and, once
issued, shares of closed-end funds are sold in the open market through a stock exchange.
Shares of closed-end funds frequently trade at a discount to net asset value. The price of
the fund's shares is determined by a number of factors, several of which are beyond the
control of the fund. Therefore, the fund cannot predict whether its shares will trade at,
below or above net asset value. </FONT>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">DWS Investments is part of Deutsche Bank's Asset Management division and, within the US,
represents the retail asset management activities of Deutsche Bank AG, Deutsche Bank Trust
Company Americas, Deutsche Investment Management Americas Inc. and DWS Trust
Company.</FONT></I>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">NOT FDIC/NCUA INSURED NO BANK GUARANTEE MAY LOSE VALUE
NOT&nbsp;A&nbsp;DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY</FONT></I>
</P>
<P ID="mit.html.3" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff"><A NAME="perfsum" ID="perfsum"></A>Performance Summary     </FONT><FONT SIZE="-1" COLOR="#0091ff">May 31, 2009</FONT></B>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Performance is historical, assumes reinvestment of all dividend and capital gain
distributions, and does not guarantee future results. Investment return and
principal value fluctuate with changing market conditions so that, when sold,
shares may be worth more or less than their original cost. Current performance may
be lower or higher than the performance data quoted. Please visit
www.dws-investments.com for the Fund's most recent month-end performance.</FONT></B>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Fund specific data and performance are provided for informational purposes only
and are not intended for trading purposes.</FONT></B>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Returns and rankings based on net asset value during the 1-year, 3-year, 5-year and
10-year periods shown reflect fee reductions. Without these fee reductions, returns and
rankings would have been lower.</FONT>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="6">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Average Annual Total Returns </FONT></B><FONT SIZE="-2" COLOR="#000000">as of 5/31/09</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_10">
<TD CLASS="CLASS_65" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">DWS Municipal Income Trust</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_100" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">6-Month<SUP>&#135;</SUP></FONT></B>
</P>
</TD>
<TD CLASS="CLASS_100" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">1-Year</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_100" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">3-Year</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_100" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">5-Year</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_100" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">10-Year</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_64" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Based on Net Asset Value<SUP>(a)</SUP></FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">21.03%</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">4.73%</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">4.10%</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">4.79%</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">6.00%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_64" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Based on Market Price<SUP>(a)</SUP></FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">29.19%</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">1.47%</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">4.59%</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">4.70%</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">4.41%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_64" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Barclays Capital Municipal Bond
Index<SUP>(b)</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9.00%</FONT>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3.57%</FONT>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4.09%</FONT>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4.41%</FONT>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4.95%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_64" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Lipper General Closed-End
Municipal Debt Funds (Leveraged)
Category<SUP>(c)</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">17.36%</FONT>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">-5.77%</FONT>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">-.75%</FONT>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2.72%</FONT>
</P>
</TD>
<TD CLASS="CLASS_87" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_88" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4.26%</FONT>
</P>
</TD>
</TR>


</TABLE>
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Sources: Lipper Inc. and Deutsche Investment Management Americas Inc.</FONT></I>
</P>
<FONT SIZE="-2" COLOR="#000000"><SUP>&#135;</SUP></FONT><FONT SIZE="-2" COLOR="#000000">        </FONT><I><FONT SIZE="-2" COLOR="#000000">Total returns shown for periods less than one year are not annualized.</FONT></I><BR>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Net Asset Value and Market Price</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_10">
<TD CLASS="CLASS_63" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_99" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">As of 5/31/09</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_99" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">As of 11/30/08</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_112" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Net Asset Value</FONT><BR>
</TD>
<TD CLASS="CLASS_78" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_79" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$      11.30</FONT>
</P>
</TD>
<TD CLASS="CLASS_78" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_79" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$      9.72</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_112" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Market Price</FONT><BR>
</TD>
<TD CLASS="CLASS_78" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_79" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$      10.25</FONT>
</P>
</TD>
<TD CLASS="CLASS_78" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_79" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$      8.26</FONT>
</P>
</TD>
</TR>


</TABLE>
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Prices and net asset value fluctuate and are not guaranteed.</FONT></I>
</P>
<FONT SIZE="-2" COLOR="#000000"><SUP>(a)</SUP>  </FONT><I><FONT SIZE="-2" COLOR="#000000">Total return based on net asset value reflects changes in the Fund's net asset value during
each period. Total return based on market price reflects changes in market value. Each
figure assumes that dividend and capital gain distributions, if any, were reinvested. These
figures will differ depending upon the level of any discount from or premium to net asset
value at which the Fund's shares traded during the period.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>(b)        </SUP></FONT><I><FONT SIZE="-2" COLOR="#000000">The Barclays Capital Municipal Bond Index is an unmanaged, unleveraged,
market-value-weighted measure of municipal bonds issued across the United States. Index
issues have a credit rating of at least Baa and a maturity of at least two years. Index
returns, unlike Fund returns, do not reflect any fees or expenses. It is not possible to invest
directly into an index.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>(c)        </SUP></FONT><I><FONT SIZE="-2" COLOR="#000000">The Lipper General Closed-End Municipal Debt Funds (Leveraged) Category includes
closed-end funds that invest in general municipal debt issues in the top-four credit grades.
Lipper figures represent the average of the total returns based on net asset value reported
by all of the closed-end funds designated by Lipper Inc. as falling into the General
Closed-End Municipal Debt Funds (Leveraged) Category. Category returns assume
reinvestment of all distributions. It is not possible to invest directly into a Lipper category.</FONT></I><BR>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Distribution Information</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_69" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Six Months as of 5/31/09:</FONT><BR>
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Income Dividends (common shareholders)</FONT>
</P>
</TD>
<TD CLASS="CLASS_47" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_77" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$      .38</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_69" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">May Income Dividend (common shareholders)</FONT><BR>
</TD>
<TD CLASS="CLASS_47" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_77" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$      .0650</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_111" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Current Annualized Distribution Rate (based on Net Asset Value) as&nbsp;of&nbsp;5/31/09<SUP>+</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_47" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_86" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6.90%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_111" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Current Annualized Distribution Rate (based on Market Price) as&nbsp;of&nbsp;5/31/09<SUP>+</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_47" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_86" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7.61%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_111" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Tax Equivalent Distribution Rate (based on Net Asset Value) as&nbsp;of&nbsp;5/31/09<SUP>+</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_47" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_86" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10.62%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_111" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Tax Equivalent Distribution Rate (based on Market Price) as&nbsp;of&nbsp;5/31/09<SUP>+</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_47" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_86" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">11.71%</FONT>
</P>
</TD>
</TR>


</TABLE>
<FONT SIZE="-2" COLOR="#000000"><SUP>+</SUP></FONT><FONT SIZE="-2" COLOR="#000000">     </FONT><I><FONT SIZE="-2" COLOR="#000000">Current annualized distribution rate is the latest monthly dividend shown as an annualized
percentage of net asset value/market price on May 31, 2009. Distribution rate simply
measures the level of dividends and is not a complete measure of performance. Tax
equivalent distribution rate is based on the Fund's distribution rate and a marginal income
tax rate of 35%. Distribution rates are historical, not guaranteed and will fluctuate.<A NAME="perfsumend" ID="perfsumend"></A></FONT></I><BR>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="5">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Lipper Rankings &#151; General Closed-End Municipal Debt Funds (Leveraged)
Category </FONT></B><FONT SIZE="-2" COLOR="#000000">as&nbsp;of&nbsp;5/31/09</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_62" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Period</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_97" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Rank</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_98" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_97" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Number of
Funds Tracked</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_97" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Percentile
Ranking (%)</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_110" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">1-Year</FONT><BR>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">1</FONT>
</P>
</TD>
<TD CLASS="CLASS_48" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">of</FONT>
</P>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">58</FONT>
</P>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">2</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_110" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">3-Year</FONT><BR>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">2</FONT>
</P>
</TD>
<TD CLASS="CLASS_48" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">of</FONT>
</P>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">58</FONT>
</P>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">4</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_110" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">5-Year</FONT><BR>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">6</FONT>
</P>
</TD>
<TD CLASS="CLASS_48" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">of</FONT>
</P>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">57</FONT>
</P>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">11</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_110" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">10-Year</FONT><BR>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">1</FONT>
</P>
</TD>
<TD CLASS="CLASS_48" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">of</FONT>
</P>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">41</FONT>
</P>
</TD>
<TD CLASS="CLASS_47" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">3</FONT>
</P>
</TD>
</TR>


</TABLE>
<P CLASS="CLASS_28" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Source: Lipper Inc. Rankings are historical and do not guarantee future results. Rankings
are based on net asset value total return with distributions reinvested.</FONT></B>
</P>
<P ID="mit.html.5" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff"><A NAME="portsum" ID="portsum"></A>Portfolio Summary</FONT></B>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Asset Allocation </FONT></B><FONT SIZE="-2" COLOR="#000000">(As a %&nbsp;of&nbsp;Investment Portfolio)</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">5/31/09</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">11/30/08</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_26" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_46" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_46" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Revenue Bonds</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">65%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">61%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">ETM/Prerefunded Bonds</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">18%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">25%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">General Obligation Bonds</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">11%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Lease Obligations</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_27" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_85" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">100%</FONT>
</P>
</TD>
<TD CLASS="CLASS_85" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">100%</FONT>
</P>
</TD>
</TR>


</TABLE>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Quality</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">5/31/09</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">11/30/08</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_26" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_46" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_46" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">AAA</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">19%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">17%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">AA</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">24%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">28%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">A</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">41%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">35%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">BBB</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">15%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Below B</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">&#151;</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Not Rated</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_27" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_85" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">100%</FONT>
</P>
</TD>
<TD CLASS="CLASS_85" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">100%</FONT>
</P>
</TD>
</TR>


</TABLE>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Interest Rate Sensitivity</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">5/31/09</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">11/30/08</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_26" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_46" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_46" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Average Maturity</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">8.4 years</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">9.1 years</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Duration</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">7.2 years</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">9.7 years</FONT>
</P>
</TD>
</TR>


</TABLE>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Top Five State Allocations </FONT></B><FONT SIZE="-2" COLOR="#000000">(As&nbsp;a&nbsp;%&nbsp;of&nbsp;Investment&nbsp;Portfolio)</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">5/31/09</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">11/30/08</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_26" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_46" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_46" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">13%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">12%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">13%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Florida</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">11%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Texas</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">13%</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_25" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Tennessee</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6%</FONT>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_84" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6%</FONT>
</P>
</TD>
</TR>


</TABLE>
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Asset allocation, quality, interest rate sensitivity and state allocations are subject to change. </FONT></I>
</P>
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">The quality ratings represent the lower of Moody's Investors Service, Inc. (&quot;Moody's&quot;) or
Standard &amp; Poor's Corporation (&quot;S&amp;P&quot;) credit ratings. The ratings of Moody's and S&amp;P
represent their opinions as to the quality of the securities they rate. Ratings are relative and
subjective and are not absolute standards of quality. The Fund's credit quality does not remove
market risk.</FONT></I>
</P>
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">For more complete details about the Fund's investment portfolio, see page <A HREF="#portfolio">7</A>. A quarterly Fact
Sheet is&nbsp;available upon request. A complete list of the Fund's portfolio holdings is posted as of
the month end on www.dws-investments.com on or about the 15th day of the following
month. More frequent posting of portfolio holdings information may be made from time to time
on www.dws-investments.com. Please see the Additional Information section for contact
information.</FONT></I>
</P>
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT COLOR="#000000">Following the Fund's fiscal first and third quarter-end, a complete portfolio
holdings listing is filed with the SEC on Form N-Q. The form will be available
on the SEC's Web site at www.sec.gov, and it also may be reviewed and
copied at the SEC's Public Reference Room in Washington, D.C. Information
on the operation of the SEC's Public Reference Room may be obtained by
calling (800)&nbsp;SEC-0330.</FONT>
</P>
<P ID="mit.html.6" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff"><A NAME="portfolio" ID="portfolio"></A>Investment Portfolio        </FONT><FONT SIZE="-1" COLOR="#0091ff">as of May 31, 2009 (Unaudited)</FONT></B>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_6">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">Principal
Amount ($)</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">Value ($)</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_82" ALIGN="RIGHT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT COLOR="#0091ff">Municipal Bonds and Notes 130.4%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Alabama 2.3%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Camden, AL, Industrial Development Board Revenue, Series&nbsp;B,
AMT, Prerefunded, 6.375%, 12/1/2024 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,161,280</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Huntsville, AL, Water &amp; Sewer Revenue, AMT,
5.75%,&nbsp;10/1/2011 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,560,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,788,980</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">9,950,260</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Arizona 2.8%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Arizona, Health Facilities Authority Revenue, Banner Health
System, Series D, 5.375%, 1/1/2032 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,974,650</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Arizona, Hospital &amp; Healthcare Revenue, Health Facilities
Authority, Catholic Healthcare West, Series A,
6.625%,&nbsp;7/1/2020 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7,457,170</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Arizona, Salt Verde Financial Corp., Gas Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">5.0%, 12/1/2037 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,050,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">839,958</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">5.5%, 12/1/2029 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,400,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,238,300</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">12,510,078</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">California 21.1%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, ABAG Finance Authority for Non-Profit Corporations,
Multi-Family Housing Revenue, Amber Court Apartments,
Series A, 0.15%**, 12/15/2032 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, Health Facilities Financing Authority Revenue,
Catholic Healthcare West, Series A, 6.0%, 7/1/2039 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,558,030</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, Housing Finance Agency Revenue, Multi-Family
Housing, Series C, AMT, 1.5%**, 2/1/2033 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,000,000</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, Special Assessment Revenue, Golden State Tobacco
Securitization Corp., Series 2003-A-1, Prerefunded, 6.75%,
6/1/2039 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">11,730,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">13,742,047</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, State General Obligation: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">5.125%, 4/1/2024 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,400,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,410,912</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">5.25%, 4/1/2030 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">110,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">107,405</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">6.0%, 4/1/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,298,500</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, State Public Works Board Lease Revenue,
Department of General Services, Buildings 8 &amp; 9, Series&nbsp;A,
6.25%, 4/1/2034 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,640,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,774,726</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, State Public Works Board Lease Revenue,
Department of General Services, Capital East End, Series&nbsp;A,
5.25%, 12/1/2020 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,497,270</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, State Revenue Lease, Public Works Board,
Department of Corrections, Series C, 5.5%, 6/1/2021 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,512,950</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, State Weekly Public Kindergarten University, Series
A-8, 0.1%**, 5/1/2034, Citibank NA, California State
Teacher's Retirement System (b) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,545,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,545,000</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Corona-Norco, CA, Unified School District, Election of 2006,
Series A, 5.0%, 8/1/2031 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,130,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,133,027</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Kern, CA, High School District, Election of 2004, Series B,
5.0%, 8/1/2030 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">13,270,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">13,340,596</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Northern California, Tobacco Securitization Authority, Tobacco
Settlement Revenue, Series A-1, 5.375%,&nbsp;6/1/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,016,600</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Port Oakland, CA, Series A, AMT, 5.0%, 11/1/2027 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,850,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,016,199</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Sacramento, CA, Municipal Utility District, Electric Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series U, 5.0%, 8/15/2026 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,615,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,678,832</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series U, 5.0%, 8/15/2027 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,025,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,059,243</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series U, 5.0%, 8/15/2028 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,045,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,065,900</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Triunfo County, CA, Sanitation District Revenue, 0.15%**,
6/1/2019, BNP Paribas (b) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,200,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,200,000</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">92,957,237</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Colorado 5.6%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Colorado, E-470 Public Highway Authority Revenue, Series&nbsp;A-1,
5.5%, 9/1/2024 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,257,825</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Colorado, Health Facilities Authority Revenue, Covenant
Retirement Communities, Inc., 5.0%, 12/1/2035 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,798,375</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Colorado, Health Facilities Authority Revenue, Portercare
Adventist Health System, Prerefunded, 6.5%, 11/15/2031 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,130,910</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Colorado, Hospital &amp; Healthcare Revenue, Poudre Valley Health
Facilities: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, Prerefunded, 5.5%, 12/1/2017 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,145,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,359,461</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, Prerefunded, 6.0%, 12/1/2015 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,705,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,918,481</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, Prerefunded, 6.0%, 12/1/2016 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,074,840</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Colorado, Single Family Housing Revenue, Series B2, AMT,
7.25%, 10/1/2031 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">145,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">148,851</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Denver, CO, Airport Revenue, Series A, AMT,
6.0%,&nbsp;11/15/2014 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,116,800</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">24,805,543</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">District of Columbia 1.2%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">District of Columbia, Series A, ETM, 5.5%, 6/1/2014 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">640,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">648,435</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">District of Columbia, Howard University Revenue, Series A,
5.0%, 10/1/2023 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,810,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,856,393</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">District of Columbia, State General Obligation, Series A, 5.5%,
6/1/2014 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,860,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,884,348</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">5,389,176</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Florida 7.8%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Hillsborough County, FL, Industrial Development Revenue,
University Community Hospital Project, Series A,
Prerefunded, 5.625%, 8/15/2023 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,020,880</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Miami-Dade County, FL, Aviation Revenue, Series A,
5.5%,&nbsp;10/1/2041 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9,592,900</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Miami-Dade County, FL, Educational Facilities Authority
Revenue, University of Miami, Series A, 5.75%, 4/1/2028 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,104,160</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Miami-Dade County, FL, Transportation/Tolls Revenue,
Expressway Authority: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">6.0%, 7/1/2013 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,665,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,750,315</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">6.0%, 7/1/2014 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,051,240</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">North Brevard County, FL, Hospital District Revenue, Parrish
Medical Center Project: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">5.5%, 10/1/2028 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,290,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,252,229</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">5.75%, 10/1/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,943,650</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Orange County, FL, Health Facilities Authority Revenue,
Orlando Regional Healthcare System: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series B, 5.25%, 12/1/2029 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,523,275</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Prerefunded, 5.75%, 12/1/2032 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,146,640</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Palm Beach County, FL, School District Revenue Lease, Series
A, Prerefunded, 5.75%, 8/1/2017 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,850,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,049,300</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">34,434,589</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Georgia 5.4%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Georgia, Main Street Natural Gas, Inc., Gas&nbsp;Project&nbsp;Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, 5.0%, 3/15/2020 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7,250,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,941,295</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, 5.5%, 9/15/2024 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,479,250</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, 5.5%, 9/15/2028 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,729,600</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Georgia, Medical Center Hospital Authority Revenue,
Anticipation Certificates, Columbus Regional Healthcare
Systems, 6.5%, 8/1/2038 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,300,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,562,020</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">23,712,165</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Hawaii 4.0%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Hawaii, Airport System Revenue, Series B, AMT,
6.5%,&nbsp;7/1/2013 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,800,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9,047,544</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Hawaii, Electric Revenue, Department of Budget &amp; Finance,
Series D, AMT, 6.15%,1/1/2020 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,195,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,196,229</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Hawaii, Port Authority Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, AMT, 6.0%, 7/1/2011 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,950,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,066,909</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, AMT, 6.0%, 7/1/2012 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,135,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,247,233</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">17,557,915</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Idaho 0.5%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Idaho, Health Facilities Authority Revenue, St. Luke's Regional
Medical Center, 6.75%, 11/1/2037 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,135,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">2,256,716</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Illinois 7.0%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Aurora, IL, Single Family Mortgage Revenue, Series C, AMT,
5.5%, 6/1/2045 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,442,376</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,513,628</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Chicago, IL, Airport Revenue, O'Hare International Airport,
AMT, 5.5%, 1/1/2014 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,129,400</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Chicago, IL, Other General Obligation, Neighborhoods Alive&nbsp;21
Project: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, Prerefunded, 6.0%, 1/1/2015 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,069,310</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, Prerefunded, 6.0%, 1/1/2017 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,069,310</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Illinois, Finance Authority Revenue, Advocate Health Care
Network, Series D, 6.5%, 11/1/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,067,410</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Illinois, Finance Authority Revenue, Northwest Community
Hospital, Series A, 5.5%, 7/1/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,750,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,749,713</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Illinois, Finance Authority Revenue, Rush University Medical
Center, Series B, 5.75%, 11/1/2028 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,250,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,228,425</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Illinois, Health Facilities Authority Revenue, Children's
Memorial Hospital, Series A, Prerefunded,
5.625%,&nbsp;8/15/2019 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,078,280</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">30,905,476</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Indiana 1.7%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Indiana, Finance Authority Hospital Revenue, Deaconess
Hospital Obligation, Series A, 6.75%, 3/1/2039 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,745,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,779,708</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Indiana, Hospital &amp; Healthcare Revenue, Health Facilities
Authority, Prerefunded, 5.5%, 11/1/2031 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,575,750</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">7,355,458</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Kentucky 3.4%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Kentucky, Economic Development Finance Authority,
Health&nbsp;System Revenue, Norton Healthcare: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, Prerefunded, 6.5%, 10/1/2020 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">790,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">854,590</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, 6.5%, 10/1/2020 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,210,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,230,268</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, Prerefunded, 6.625%, 10/1/2028 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,135,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,396,522</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, 6.625%, 10/1/2028 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">865,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">867,396</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Kentucky, Economic Development Finance Authority, Louisville
Arena Project Revenue, Series A-1, 6.0%,&nbsp;12/1/2042 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,136,240</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Louisville &amp; Jefferson County, KY, Metropolitan
Government&nbsp;Health System Revenue, Norton
Healthcare,&nbsp;Inc., 5.0%, 10/1/2030 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,463,000</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">14,948,016</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Louisiana 0.4%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Louisiana, St. John Baptist Parish Revenue, Marathon Oil
Corp., Series A, 5.125%, 6/1/2037 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,315,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">1,961,638</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Maine 0.1%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Maine, Hospital &amp; Healthcare Revenue, Series D,
5.7%,&nbsp;7/1/2013 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">265,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">265,917</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Maryland 1.2%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Maryland, Hospital &amp; Healthcare Revenue, University of
Maryland Medical System, Prerefunded, 6.75%, 7/1/2030 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,692,725</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Maryland, State Health &amp; Higher Educational Facilities Authority
Revenue, Anne Arundel Health Systems, Series&nbsp;A, 6.75%,
7/1/2039 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,100,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,224,245</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Maryland, State Health &amp; Higher Educational Facilities Authority
Revenue, Washington County Hospital, 5.75%,&nbsp;1/1/2033 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,311,360</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">5,228,330</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Massachusetts 2.2%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Massachusetts, Airport Revenue, U.S. Airways, Inc. Project,
Series A, AMT, 5.875%, 9/1/2023 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,764,250</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Massachusetts, Port Authority Revenue, Series B, AMT, 5.5%,
7/1/2015 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,032,970</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Massachusetts, State Health &amp; Educational Facilities Authority
Revenue, Boston Medical Center Project, 5.25%, 7/1/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,385,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,905,481</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">9,702,701</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Michigan 1.0%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Chippewa County, MI, Hospital &amp; Healthcare Revenue,
Chippewa County War Memorial, Series B,
5.625%,&nbsp;11/1/2014 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,295,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,214,710</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Michigan, State Building Authority Revenue, Facilities Program,
Series I, 6.0%, 10/15/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,065,590</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Royal Oak, MI, Hospital Finance Authority Revenue, William
Beaumont Hospital, 8.25%, 9/1/2039 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,800,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,033,622</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">4,313,922</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Minnesota 1.9%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Minneapolis &amp; St. Paul, MN, Airport Revenue, Series B, AMT,
6.0%, 1/1/2012 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,395,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,493,053</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Minneapolis &amp; St. Paul, MN, Port Authority Revenue, Series&nbsp;B,
AMT, 5.625%, 1/1/2015 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,526,950</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Minneapolis, MN, Health Care Systems Revenue, Fairview
Health Services, Series A, 6.75%, 11/15/2032 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,140,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,203,532</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">8,223,535</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Mississippi 0.3%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Warren County, MS, Gulf Opportunity Zone, International Paper
Co., Series A, 6.5%, 9/1/2032 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,525,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">1,321,504</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Missouri 0.1%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Missouri, Hospital &amp; Healthcare Revenue, Lake of the Ozarks
General Hospital, 6.5%, 2/15/2021 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">365,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">353,068</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Nevada 2.1%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Henderson, NV, Health Care Facility Revenue, Catholic
Healthcare West, Series B, 5.25%, 7/1/2031 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">9,237,500</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">New Hampshire 0.5%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New Hampshire, Health &amp; Education Facilities Authority
Revenue, Dartmouth College Issue, 0.15%**, 6/1/2032 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,100,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">2,100,000</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">New Jersey 7.3%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New Jersey, Economic Development Authority Revenue,
Cigarette Tax, 5.75%, 6/15/2034 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,090,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">869,678</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New Jersey, Hospital &amp; Healthcare Revenue, General Hospital
Center at Passaic, ETM, 6.75%, 7/1/2019 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,303,950</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New Jersey, Industrial Development Revenue, American&nbsp;Water
Co., Inc. Project, Series A, AMT, 6.875%, 11/1/2034 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,775,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,776,616</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New Jersey, Industrial Development Revenue, Economic
Development Authority, Harrogate, Inc., Series A, 5.875%,
12/1/2026 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,400,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,039,906</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New Jersey, Resource Recovery Revenue, Tobacco
Settlement Financing Corp., 5.75%, 6/1/2032 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,705,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,861,059</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New Jersey, State Transportation Trust Fund Authority,
Transportation Systems, Series A, 6.0%, 12/15/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,261,030</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New Jersey, State Turnpike Authority Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series B, 0.07%**, 1/1/2024, PNC Bank NA (b) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series E, 5.25%, 1/1/2040 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,750,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,781,588</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New Jersey, Tobacco Settlement Financing Corp., Series&nbsp;1-A,
5.0%, 6/1/2041 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,700,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,029,163</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">31,922,990</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">New York 5.1%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Nassau County, NY, Hospital &amp; Healthcare, Prerefunded, 6.0%,
8/1/2015 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,390,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,489,734</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York, State Agency General Obligation Lease, Higher
Education Revenue, Dormitory Authority, City University,
Series A, 5.625%, 7/1/2016 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,655,925</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York, Tobacco Settlement Financing Corp., Series&nbsp;B-1C,
5.5%, 6/1/2019 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">15,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">16,114,110</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Niagara Falls, NY, School District General Obligation,
5.6%,&nbsp;6/15/2014 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,180,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,399,610</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">22,659,379</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">North Carolina 2.5%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Charlotte, NC, Airport Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series B, AMT, 5.75%, 7/1/2013 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,480,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,508,941</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series B, AMT, 5.875%, 7/1/2014 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,140,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,153,042</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">North Carolina, Electric Revenue, Municipal Power Agency: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series C, 5.375%, 1/1/2017 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,040,080</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series B, 6.375%, 1/1/2013 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,087,360</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">North Carolina, Medical Care Commission, Health Care
Facilities Revenue, University Health Systems, Series D,
6.25%, 12/1/2033 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,210,660</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">11,000,083</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">North Dakota 0.8%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Grand Forks, ND, Hospital &amp; Healthcare Revenue, Altru Health
Care System, Prerefunded, 7.125%, 8/15/2024 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,400,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">3,692,162</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Ohio 4.4%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Buckeye, OH, Tobacco Settlement Financing Authority, Series
A-2, 5.875%, 6/1/2030 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">19,820,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">15,551,961</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Green Springs, OH, Senior Care Revenue, St. Francis Health
Care Center Project, Series A, 7.125%, 5/15/2025* </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,716,160</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">19,268,121</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Pennsylvania 1.0%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Allegheny County, PA, Hospital Development Authority
Revenue, University of Pittsburgh Medical,
5.625%,&nbsp;8/15/2039 (c) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,700,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,700,493</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Pennsylvania, Hospital &amp; Healthcare Revenue, Economic
Development Financing Authority, UPMC Health System,
Series A, 6.0%, 1/15/2031 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,570,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,631,731</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">4,332,224</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Rhode Island 0.5%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Rhode Island, Health &amp; Educational Building Corp., Higher
Education Facility Revenue, University of Rhode Island,
Series A, 6.25%, 9/15/2034 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">2,055,080</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">South Carolina 2.6%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Greenwood County, SC, Hospital &amp; Healthcare Revenue, South
Carolina Memorial Hospital, 5.5%, 10/1/2031 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,358,700</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">South Carolina, Jobs Economic Development Authority,
Hospital Facilities Revenue, Palmetto Health Alliance: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series C, Prerefunded, 7.0%, 8/1/2030 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,420,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,450,216</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series A, Prerefunded, 7.375%, 12/15/2021 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,223,940</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">South Carolina, Tobacco Settlement Revenue Management
Authority, Series B, 6.0%, 5/15/2022 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,310,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,385,273</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">11,418,129</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">South Dakota 0.3%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">South Dakota, State Health &amp; Educational Facilities Authority
Revenue, Sanford Health, 5.0%, 11/1/2027 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">1,442,310</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Tennessee 4.5%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Clarksville, TN, Natural Gas Acquisition Corp., Gas Revenue,
5.0%, 12/15/2021 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,735,960</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Jackson, TN, Hospital Revenue, Jackson-Madison Project,
5.625%, 4/1/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,957,440</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Memphis-Shelby County, TN, Airport Revenue, Series D, AMT,
6.25%, 3/1/2017 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,690,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,779,954</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Shelby County, TN, Health Educational &amp; Housing Facility
Board, Hospital Revenue, Methodist Health Care,
Prerefunded, 6.5%, 9/1/2026 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,101,730</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Sullivan County, TN, Health, Educational &amp; Housing Facilities
Board, Hospital Revenue, Wellmont Health Systems Project,
Series C, 5.25%, 9/1/2036 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,050,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,377,703</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">19,952,787</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Texas 17.9%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Austin, TX, Sales &amp; Special Tax Revenue,
Hotel&nbsp;Occupancy&nbsp;Tax: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Prerefunded, 6.0%, 11/15/2015 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,480,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,564,669</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Prerefunded, 6.0%, 11/15/2016 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,625,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,713,196</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Brazos River, TX, Pollution Control Revenue, Brazos River
Authority, Texas Utilities Electric Co. Project, Series C, AMT,
5.75%, 5/1/2036 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,965,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,057,808</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Harris County, TX, Health Facilities Development Corp. Hospital
Revenue, Memorial Hermann Healthcare System, Series B,
7.25%, 12/1/2035 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,082,030</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Harris County, TX, Houston Port Authority, Series A, AMT,
6.25%, 10/1/2029 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,140,040</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Houston, TX, Airport Revenue, People Mover Project, Series&nbsp;A,
AMT, 5.5%, 7/15/2017 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,300,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,301,848</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Houston, TX, Port Authority Revenue, Airport Revenue, Series
A, AMT, 5.875%, 7/1/2014 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,960,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,032,864</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">North Texas, Tollway Authority Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">First Tier, Series A, 5.625%, 1/1/2033 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,474,940</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Second Tier, Series F, 5.75%, 1/1/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,409,845</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Red River, TX, Education Finance Revenue Lease, St. Mark's
School Project, Prerefunded, 6.0%, 8/15/2019 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,390,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,601,719</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Tarrant County, TX, Cultural Educational Facilities Finance Corp.
Revenue, Texas Health Resources, Series A,
5.0%,&nbsp;2/15/2026 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,040,480</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Texas, Dallas/Fort Worth International Airport Revenue, Series
A, AMT, 5.875%, 11/1/2016 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,652,490</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Texas, Industrial Development Revenue, Waste Disposal
Authority, Series A, AMT, 6.1%, 8/1/2024 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,668,440</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Texas, Municipal Gas Acquisition &amp; Supply Corp. I, Gas&nbsp;Supply
Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series B, 1.584%***, 12/15/2026 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">12,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,541,000</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series D, 6.25%, 12/15/2026 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,819,500</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Texas, SA, Energy Acquisition Public Facility Corp., Gas&nbsp;Supply
Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">5.5%, 8/1/2021 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,155,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,080,607</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">5.5%, 8/1/2025 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7,250,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,672,465</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Texas, State Turnpike Authority, Dallas Northway Revenue,
5.5%, 1/1/2015 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,865,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,995,271</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">78,849,212</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Virginia 0.3%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Washington County, VA, Industrial Development Authority,
Hospital Facility Revenue, Mountain States Health Alliance,
Series C, 7.75%, 7/1/2038 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,370,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">1,470,448</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Washington 3.7%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Seattle, WA, Airport Revenue, Series B, AMT, 6.0%,&nbsp;2/1/2013
(a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7,355,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7,878,529</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Seattle, WA, Special Assessment Revenue: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series B, AMT, 5.5%, 9/1/2011 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,085,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,110,237</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Series B, AMT, 5.75%, 9/1/2013 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,045,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,063,026</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Washington, Hospital &amp; Healthcare Revenue, Group Health
Coop of Puget Sound, 5.375%, 12/1/2017 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,508,790</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Washington, State Health Care Facilities Authority
Revenue,&nbsp;Series C, 5.375%, 8/15/2028 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,240,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,088,929</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Washington, State Health Care Facilities Authority
Revenue,&nbsp;Virginia Mason Medical Center, Series A,
6.125%,&nbsp;8/15/2037 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">828,450</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">16,477,961</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">West Virginia 4.6%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">West Virginia, Hospital Finance Authority Revenue, Charleston
Medical Center: </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Prerefunded, 6.75%, 9/1/2022 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">12,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">13,007,400</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_43" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Prerefunded, 6.75%, 9/1/2030 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,335,800</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">West Virginia, Water &amp; Sewer Revenue, Water Development
Authority, Series B, 5.25%, 11/1/2023 (a) </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,740,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,845,819</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">20,189,019</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_114" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Wisconsin 2.3%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Badge, WI, Tobacco Asset Securitization Corp.,
6.125%,&nbsp;6/1/2027 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">2,835,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,031,267</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Wisconsin, State Health &amp; Educational Facilities Authority
Revenue, Aurora Health Care, Inc., Series A,
5.6%,&nbsp;2/15/2029 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,397,900</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Wisconsin, State Health &amp; Educational Facilities Authority
Revenue, Prohealth Care, Inc. Obligation Group,
6.625%,&nbsp;2/15/2039 </FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,555,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">1,611,664</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">10,040,831</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_22" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000"><B>Total Municipal Bonds and Notes</B> (Cost $556,855,216)</FONT>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">574,261,480</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_109" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I><BR>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT COLOR="#0091ff">Municipal Inverse Floating Rate Notes (d) 65.6%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_113" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">California 4.6%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, San Francisco Bay Area Toll Authority, Toll Bridge
Revenue, Series F, 5.0%, 4/1/2031 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,031,916</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: California, San Francisco Bay Area Toll Authority, Toll
Bridge Revenue, Series 1962-5, 144A, 13.893%, 4/1/2031,
Leverage Factor at purchase date: 3 to 1</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">California, State General Obligation, 5.0%, 6/1/2023 (a) (e<I>)</I></FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,338,450</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: California, State General Obligation, Series 1932, 144A,
15.89%, 6/1/2023, Leverage Factor at purchase date:&nbsp;4 to 1 </FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_108" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I><BR>
</TD>
<TD CLASS="CLASS_41" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">20,370,366</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_113" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Florida 14.5%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Miami-Dade County, FL, Aviation Revenue, Miami International
Airport, Series A, AMT, 5.25%,&nbsp;10/1/2033&nbsp;(a)&nbsp;(e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">34,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">31,285,100</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Miami-Dade County, FL, Port, Airport &amp; Marina
Improvements, Series 2008-1144, 144A, AMT, 9.55%,
10/1/2033, Leverage Factor at purchase date: 2 to 1 </FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Miami-Dade County, FL, Transit Sales Surtax Revenue,
5.0%,&nbsp;7/1/2023 (a) (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,740,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,757,127</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Miami-Dade County, FL, Transit Sales Surtax Revenue,
5.0%,&nbsp;7/1/2024 (a) (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,915,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">3,932,928</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Miami-Dade County, FL, Transit Sales Surtax Revenue,
5.0%,&nbsp;7/1/2025 (a) (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,122,500</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,141,378</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Miami-Dade County, FL, Transit Sales Surtax Revenue,
5.0%,&nbsp;7/1/2026 (a) (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,317,500</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4,337,271</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Miami-Dade County, FL, Transit Sales Surtax Revenue,
5.0%,&nbsp;7/1/2032 (a) (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">16,470,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">16,545,421</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Miami-Dade County, FL, Transit Improvements, Series
2008-1160, 144A, 9.001%, 7/1/2023, Leverage Factor at
purchase date: 2 to 1 </FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_108" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I><BR>
</TD>
<TD CLASS="CLASS_41" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">63,999,225</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_113" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Massachusetts 5.5%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Massachusetts, State Water Pollution Abatement Trust, Series
13, 5.0%, 8/1/2032 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">18,250,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">18,968,844</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Massachusetts, State Water Pollution Abatement Trust, Series
13, 5.0%, 8/1/2037 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,196,944</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Massachusetts, State Pollution Control, Water Utility
Improvements, Series 3159, 144A, 13.472%, 8/1/2032,
Leverage Factor at purchase date: 3 to 1</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_24" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_83" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_41" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">24,165,788</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_113" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Nevada 6.7%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Clark County, NV, General Obligation, Limited Tax-Bond Bank,
5.0%, 6/1/2028 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9,447,355</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9,542,413</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Clark County, NV, General Obligation, Limited Tax-Bond Bank,
5.0%, 6/1/2029 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9,919,723</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,019,534</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Clark County, NV, General Obligation, Limited Tax-Bond Bank,
5.0%, 6/1/2030 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9,627,878</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">9,724,753</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Clark County, NV, General Obligation,</FONT></I><FONT SIZE="-2" COLOR="#000000"> <I>Series 3158,
144A, 13.433%, 6/1/2028, Leverage Factor at purchase date:
3 to 1 </I></FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_24" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_83" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_41" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">29,286,700</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_113" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">New York 18.1%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York, State Dormitory Authority, State Personal Income
Tax Revenue, Series A, 5.0%, 3/15/2026 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">13,500,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">14,215,500</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: New York, State Dormitory Authority Revenue, Series
2008-1189, 144A, 9.35%, 3/15/2026, Leverage Factor at
purchase date: 2 to 1 </FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York, State Dormitory Authority, State Personal Income
Tax Revenue, Series A, 5.0%, 3/15/2026 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000"><A NAME="OLE_LINK2" ID="OLE_LINK2"></A>10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,479,306</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: New York, State Dormitory Authority Revenue, Series
3160, 144A, 13.474%, 3/15/2026, Leverage Factor at
purchase date: 3 to 1</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York, State Dormitory Authority Revenues, State
Supported Debt, University Dormitory Facilities,
5.0%,&nbsp;7/1/2025 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,425,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5,505,856</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York, State Dormitory Authority Revenues, State
Supported Debt, University Dormitory Facilities,
5.0%,&nbsp;7/1/2027 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,080,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,200,428</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: New York, State Dormitory Authority Revenues, Series
3169, 144A, 13.471%, 7/1/2025, Leverage Factor at purchase
date: 3 to 1 </FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York, State Dormitory Authority, State Personal Income
Tax Revenue, Series A, 5.0%, 3/15/2024 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,612,500</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: New York, State Dormitory Authority Revenue,
Secondary Issues, Series 1955-3, 144A, 18.26%, 3/15/2024,
Leverage Factor at purchase date: 4 to 1</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York, Triborough Bridge &amp; Tunnel Authority Revenues,
Series C, 5.0%, 11/15/2033 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">12,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">12,144,180</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: New York, Triborough Bridge &amp; Tunnel Authority
Revenues, Series 2008-1188, 144A, 9.35%, 11/15/2033,
Leverage Factor at purchase date: 2 to 1 </FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">New York City, NY, Transitional Finance Authority Revenue,
Series C-1, 5.0%, 11/1/2027 (e<I>)</I></FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">17,560,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">18,319,382</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: New York City, NY, Series 2008-1190, 144A, 9.35%,
11/1/2027, Leverage Factor at purchase date: 2 to 1 </FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_108" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I><BR>
</TD>
<TD CLASS="CLASS_41" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">79,477,152</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_113" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Pennsylvania 2.4%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Pennsylvania, State General Obligation, Second Series, 5.0%,
1/1/2025 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">10,669,300</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Pennsylvania, State General Obligation, Public Transit
Improvements, Series 2008-1146, 144A, 9.3%, 1/1/2025,
Leverage Factor at purchase date: 2 to 1</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_113" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Tennessee 7.5%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Nashville &amp; Davidson County, TN, Metropolitan Government,
5.0%, 1/1/2027 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,756,695</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">11,308,253</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Nashville &amp; Davidson County, TN, Metropolitan
Government, Series 2631-3, 144A, 17.445%, 1/1/2027,
Leverage Factor at purchase date: 4 to 1</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Nashville &amp; Davidson County, TN, Metropolitan Government,
5.0%, 1/1/2026 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,200,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,805,574</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Nashville &amp; Davidson County, TN, Metropolitan
Government, Series 2631-2, 144A, 17.45%, 1/1/2026,
Leverage Factor at purchase date: 4 to 1 </FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Nashville &amp; Davidson County, TN, Metropolitan Government,
5.0%, 1/1/2028 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,564,925</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">11,067,528</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Nashville &amp; Davidson County, TN, Metropolitan
Government, Series 2631-4, 144A, 17.458%, 1/1/2028,
Leverage Factor at purchase date: 4 to 1 </FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_108" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I><BR>
</TD>
<TD CLASS="CLASS_41" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">33,181,355</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_113" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Texas 2.5%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Texas, State General Obligation, Transportation Commission
Mobility Fund, 5.0%, 4/1/2025 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">10,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">10,759,500</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Texas, State Highway &amp; Transit Improvements, Series
2008-1147, 144A, 9.3%, 4/1/2025, Leverage Factor at
purchase date: 2 to 1</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_113" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Virginia 3.8%</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Virginia, State Resource Authority, Clean Water Revenue, 5.0%,
10/1/2027 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,190,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,744,736</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Virginia, State Resource Authority, Clean Water Revenue, 5.0%,
10/1/2028 (e)</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7,630,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">8,146,806</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_15" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Trust: Virginia, State Resource Authority, Clean Water
Revenue, Series 2917, 144A, 10.967%, 10/1/2027, Leverage
Factor at purchase date: 2.5 to 1</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_42" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_23" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">16,891,542</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_22" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000"><B>Total Municipal Inverse Floating Rate Notes</B> (Cost $288,386,921)</FONT>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">288,800,928</FONT></B>
</P>
</TD>
</TR>


</TABLE>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_6">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">% of Net
Assets</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">Value ($)</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_82" ALIGN="RIGHT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000"><B>Total Investment Portfolio </B>(Cost&nbsp;$845,242,137)<SUP>+</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        196.00</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     863,062,408</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Other Assets and Liabilities, Net</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (35.8)</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     (157,631,552)</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_4">
<TD CLASS="CLASS_21" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Preferred Shares, at Redemption Value</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (60.2)</FONT>
</P>
</TD>
<TD CLASS="CLASS_39" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     (265,000,000)</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_61" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net Assets Applicable to Common Shareholders</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        100.0</FONT>
</P>
</TD>
<TD CLASS="CLASS_38" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     440,430,856</FONT></B>
</P>
</TD>
</TR>


</TABLE>
<FONT SIZE="-2" COLOR="#000000">*       </FONT><I><FONT SIZE="-2" COLOR="#000000">Non-income producing security. In the case of a bond, generally denotes that the issuer
has defaulted on the payment of principal or interest. The following table represents bonds
that are in default:</FONT></I><BR>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_60" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Security</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_96" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Coupon</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Maturity
Date</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Principal
Amount ($)</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Acquisition
Cost&nbsp;($)</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_45" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Value ($)</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_107" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Green Springs, OH, Senior
Care Revenue, St. Francis
Health Care Center Project,
Series A</FONT><BR>
</TD>
<TD CLASS="CLASS_81" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">7.125%</FONT>
</P>
</TD>
<TD CLASS="CLASS_37" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">5/15/2025</FONT>
</P>
</TD>
<TD CLASS="CLASS_37" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">6,000,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_37" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5,917,429</FONT>
</P>
</TD>
<TD CLASS="CLASS_37" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     3,716,160</FONT></B>
</P>
</TD>
</TR>


</TABLE>
<FONT SIZE="-2" COLOR="#000000">**      </FONT><I><FONT SIZE="-2" COLOR="#000000">Variable rate demand notes are securities whose interest rates are reset periodically at
market levels. These securities are often payable on demand and are shown at their
current rate as of May 31, 2009.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000">***     </FONT><I><FONT SIZE="-2" COLOR="#000000">Floating rate notes are securities whose yields vary with a designated market index or
market rate, such as the coupon-equivalent of the US Treasury bill rate. These securities
are shown at their current rate as of May 31, 2009.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>+</SUP></FONT><FONT SIZE="-2" COLOR="#000000">     </FONT><I><FONT SIZE="-2" COLOR="#000000">The cost for federal income tax purposes was $844,505,280. At May 31, 2009, net
unrealized appreciation for all securities based on tax cost was $18,557,128. This consisted
of aggregate gross unrealized appreciation for all securities in which there was an excess
of value over tax cost of $36,655,131 and aggregate gross unrealized depreciation for all
securities in which there was an excess of tax cost over value of $18,098,003.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000">(a)     </FONT><I><FONT SIZE="-2" COLOR="#000000">Bond is insured by one of these companies:</FONT></I><BR>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_59" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Insurance Coverage</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_40" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#000000">As a % of Total
Investment Portfolio</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_106" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Ambac Financial Group, Inc.</FONT><BR>
</TD>
<TD CLASS="CLASS_80" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">5.9</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_106" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Assured Guaranty Corp.</FONT><BR>
</TD>
<TD CLASS="CLASS_80" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4.5</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_106" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Financial Guaranty Insurance Co.</FONT><BR>
</TD>
<TD CLASS="CLASS_80" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">6.1</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_106" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Financial Security Assurance, Inc.</FONT><BR>
</TD>
<TD CLASS="CLASS_80" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">13.6</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_106" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">National Public Finance Guarantee Corp.</FONT><BR>
</TD>
<TD CLASS="CLASS_80" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">4.0</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_106" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Radian </FONT><BR>
</TD>
<TD CLASS="CLASS_80" ALIGN="RIGHT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="RIGHT"><FONT SIZE="-2" COLOR="#000000">0.5</FONT>
</P>
</TD>
</TR>


</TABLE>
<P CLASS="CLASS_118" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Many insurers who have traditionally guaranteed payment of municipal issues have been
downgraded by the major rating agencies. As a result, most insured issues are now trading on
the basis of the underlying credits.</FONT></I>
</P>
<FONT SIZE="-2" COLOR="#000000">(b)     </FONT><I><FONT SIZE="-2" COLOR="#000000">Security incorporates a letter of credit from the bank listed.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000">(c)     </FONT><I><FONT SIZE="-2" COLOR="#000000">When-issued security.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000">(d)     </FONT><I><FONT SIZE="-2" COLOR="#000000">Securities represent the underlying municipal obligations of inverse floating rate obligations
held by the Fund.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000">(e)     </FONT><I><FONT SIZE="-2" COLOR="#000000">Security forms part of the below tender option bond trust. Principal Amount and Value
shown take into account the leverage factor.</FONT></I><BR>
<P CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These
securities may be resold in transactions exempt from registration, normally to qualified
institutional buyers.</FONT></I>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">AMT: Subject to alternative minimum tax</FONT></I>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">ETM: Bonds bearing the description ETM (escrow to maturity) are collateralized usually by US
Treasury securities which are held in escrow and used to repay principal and pay interest on
bonds so designated.</FONT></I>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Prerefunded: Bonds which are prerefunded are collateralized usually by US Treasury securities
which are held in escrow and are used to repay principal and pay interest on tax-exempt issues
and to retire the bonds in full at the earliest refunding date.</FONT></I>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><B><I><FONT SIZE="-2" COLOR="#000000">Fair Value Measurements</FONT></I></B>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157,
Fair Value Measurements, establishes a three-tier hierarchy for measuring fair value and
requires additional disclosure about the classification of fair value measurements.</FONT></I>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Various inputs are used in determining the value of the Fund's investments. These inputs are
summarized in three broad levels. Level 1 includes quoted prices in active markets for identical
securities. Level 2 includes other significant observable inputs (including quoted prices for
similar securities, interest rates, prepayment speeds and credit risk). Level&nbsp;3 includes
significant unobservable inputs (including the Fund's own assumptions in determining the fair
value of investments). The inputs or methodology used for valuing securities are not
necessarily an indication of the risk associated with investing in those securities.</FONT></I>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">The following is a summary of the inputs used as of May 31, 2009 in valuing the Fund's
investments. For information on the Fund's policy regarding the valuation of investments,
please refer to the Security Valuation section of Note A in the accompanying Notes to the
Financial Statements.</FONT></I>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_58" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Valuation Inputs</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_95" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Investments in
Securities </FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_105" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Level 1</FONT><BR>
</TD>
<TD CLASS="CLASS_76" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$       &#151;</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_105" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Level 2</FONT><BR>
</TD>
<TD CLASS="CLASS_76" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        863,062,408</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_105" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Level 3</FONT><BR>
</TD>
<TD CLASS="CLASS_76" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        &#151;</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_7">
<TD CLASS="CLASS_57" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Total</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_36" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    863,062,408</FONT></B>
</P>
</TD>
</TR>


</TABLE>
<P CLASS="CLASS_121" ALIGN="JUSTIFY"><I><FONT SIZE="-2" COLOR="#000000">The accompanying notes are an integral part of the financial statements.</FONT></I>
</P>
<P ID="mit.html.18" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff"><A NAME="fins" ID="fins"></A>Financial Statements</FONT></B>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Statement of Assets and Liabilities </FONT></B><FONT SIZE="-2" COLOR="#000000">as of May 31, 2009 (Unaudited)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Assets</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Investments in securities, at value (cost&nbsp;$845,242,137)</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$       863,062,408</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Cash</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        127,353</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Receivable for investments sold</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1,010,000</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Interest receivable</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        13,807,613</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Other assets</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        6,126</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Total assets</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        878,013,500</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Liabilities</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_20" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Payable for investments purchased &#151; when-issued securities</FONT>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1,683,986</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Payable for floating rate notes issued</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        170,096,576</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Distributions payable</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        11,459</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Accrued management fee</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        315,293</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Other accrued expenses and payables</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        475,330</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Total liabilities</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        172,582,644</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Remarketed preferred shares, at redemption value</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     265,000,000</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net assets applicable to common shareholders</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    440,430,856</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net Assets Applicable to Common Shareholders Consist of</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Undistributed net investment income</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        8,279,188</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Net unrealized appreciation (depreciation) on investments</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        17,820,271</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Accumulated net realized gain (loss)</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (9,517,553)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Paid-in capital</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        423,848,950</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net assets applicable to common shareholders</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    440,430,856</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net Asset Value</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000"><B>Net Asset Value</B> per common share ($440,430,856&nbsp;&divide;&nbsp;38,973,231
outstanding shares of beneficial interest, $.01&nbsp;par&nbsp;value, unlimited shares
authorized)</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    11.30</FONT></B>
</P>
</TD>
</TR>


</TABLE>
<P CLASS="CLASS_121" ALIGN="JUSTIFY"><I><FONT SIZE="-2" COLOR="#000000">The accompanying notes are an integral part of the financial statements.</FONT></I>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Statement of Operations </FONT></B><FONT SIZE="-2" COLOR="#000000">for the six months ended May 31, 2009 (Unaudited)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Investment Income</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Income:</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Interest</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$       23,368,590</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Expenses:</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Management fee</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1,837,267</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Services to shareholders</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        28,915</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Custodian fee</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        13,007</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Professional fees</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        115,197</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Trustees' fees and expenses</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        9,042</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Reports to shareholders</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        58,206</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Remarketing agent fee</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        334,880</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Stock exchange listing fees</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        17,108</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Interest expense and fees on floating rate notes</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        911,352</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Other</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        47,520</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Total expenses before expense reductions</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        3,372,494</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Expense reductions</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (6)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Total expenses after expense reductions</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        3,372,488</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net investment income</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     19,996,102</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Realized and Unrealized Gain (Loss) </FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Net realized gain (loss) from investments</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        2,110,171</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Change in net unrealized appreciation (depreciation) on investments</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        55,100,844</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net gain (loss) </FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     57,211,015</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Dividends on remarketed preferred shares</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     (1,014,898)</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net increase (decrease) in net assets resulting from operations</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    76,192,219</FONT></B>
</P>
</TD>
</TR>


</TABLE>
<P ID="mit.html.19" CLASS="CLASS_121" ALIGN="JUSTIFY"><I><FONT SIZE="-2" COLOR="#000000">The accompanying notes are an integral part of the financial statements.</FONT></I>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Statement of Cash Flows </FONT></B><FONT SIZE="-2" COLOR="#000000">for the six months ended May 31, 2009 (Unaudited)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Increase (Decrease) in Cash:</FONT></B>
</P>
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Cash Flows from Operating Activities</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Net increase (decrease) in net assets resulting from operations (excluding
dividends on remarketed preferred shares)</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$       77,207,117</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Adjustments to reconcile net increase (decrease) in net assets resulting
from operations to net cash provided by operating&nbsp;activities:</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Purchases of long-term investments</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (206,209,507)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Net amortization/accretion of premium (discount)</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        30,241</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Proceeds from sales and maturities of long-term investments</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        215,308,308</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">(Increase) decrease in interest receivable</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (481,630)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">(Increase) decrease in other assets</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        128</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">(Increase) decrease in receivable for investments sold</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (975,000)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Increase (decrease) in payable for investments purchased</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (7,262,352)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Increase (decrease) in accrued expenses and payables</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        51,609</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Change in net unrealized (appreciation) depreciation on investments</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (55,100,844)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Net realized (gain) loss from investments</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (2,110,171)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Cash provided (used) by operating activities</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     20,457,899</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Cash Flows from Financing Activities</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Distributions paid</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (15,848,664)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Increase (decrease) in payable for floating rate notes issued</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (4,629,831)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Cash provided (used) for financing activities</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">     (20,478,495)</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Increase (decrease) in cash</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (20,596)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Cash at beginning of period</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        147,949</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_19" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Cash at end of period </FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    127,353</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Supplemental Disclosure of Non-Cash Financing Activities:</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_56" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Interest paid on floating rate notes</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$       (911,352)</FONT>
</P>
</TD>
</TR>


</TABLE>
<P ID="mit.html.20" CLASS="CLASS_121" ALIGN="JUSTIFY"><I><FONT SIZE="-2" COLOR="#000000">The accompanying notes are an integral part of the financial statements.</FONT></I>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Statement of Changes in Net Assets</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_55" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Increase (Decrease) in Net Assets</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_94" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Six Months
Ended May 31,
2009
(Unaudited)</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_94" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Year Ended
November 30,
2008</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_54" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Operations:</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Net investment income </FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$       19,996,102</FONT>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">$       35,480,912</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_104" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Net realized gain (loss) </FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        2,110,171</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (8,125,751)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_104" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Change in net unrealized appreciation (depreciation) </FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        55,100,844</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (75,553,462)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_104" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Dividends on remarketed preferred shares</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (1,014,898)</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (9,247,575)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_54" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Net increase (decrease) in net assets resulting from
operations</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        76,192,219</FONT>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (57,445,876)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_54" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Distributions to common shareholders from:</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Net investment income</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (14,743,574)</FONT>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (22,905,754)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_54" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Increase (decrease) in net assets</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        61,448,645</FONT>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (80,351,630)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_104" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Net assets at beginning of period</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        378,982,211</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        459,333,841</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_54" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Net assets at end of period (including undistributed net
investment income of $8,279,188 and $4,041,558,
respectively)</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    440,430,856</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    378,982,211</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Other Information</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_54" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Common shares outstanding at beginning of period</FONT><BR>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        38,973,231</FONT>
</P>
</TD>
<TD CLASS="CLASS_34" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        38,973,231</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_104" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Common shares outstanding at end of period</FONT><BR>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        38,973,231</FONT>
</P>
</TD>
<TD CLASS="CLASS_35" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        38,973,231</FONT>
</P>
</TD>
</TR>


</TABLE>
<P ID="mit.html.21" CLASS="CLASS_28" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">The accompanying notes are an integral part of the financial statements.</FONT></I>
</P>
<P ID="mit.html.22" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff"><A NAME="high" ID="high"></A>Financial Highlights</FONT></B>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_53" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Years Ended November 30,</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_92" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2009<SUP>a</SUP></FONT></B>
</P>
</TD>
<TD CLASS="CLASS_93" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2008</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_92" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2007</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_91" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2006</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_91" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2005</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_91" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2004</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="7">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Selected Per Share Data</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_52" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net asset value, beginning of&nbsp;period</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_32" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    9.72</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_33" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    11.79</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_32" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    12.17</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_31" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    12.14</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_31" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    12.42</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_31" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    12.59</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_17" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Income (loss) from investment operations:</FONT></I>
</P>
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Net investment income<SUP>b</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .51</FONT>
</P>
</TD>
<TD CLASS="CLASS_75" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .91</FONT>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .85</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .86</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .87</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .89</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_18" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Net realized and unrealized gain&nbsp;(loss) </FONT>
</P>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.48</FONT>
</P>
</TD>
<TD CLASS="CLASS_72" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (2.15)</FONT>
</P>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.38)</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .03</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.17)</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.16)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_18" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Dividends on remarketed preferred shares
(common share equivalent):</FONT></I>
</P>
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">From net investment income</FONT>
</P>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.03)</FONT>
</P>
</TD>
<TD CLASS="CLASS_72" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.24)</FONT>
</P>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.27)</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.24)</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.17)</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.09)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_17" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_16" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Total from investment operations</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.96</FONT>
</P>
</TD>
<TD CLASS="CLASS_75" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (1.48)</FONT>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .20</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .65</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .53</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .64</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_17" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">Less distributions from:</FONT></I>
</P>
<P CLASS="CLASS_16" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">Net investment income</FONT>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.38)</FONT>
</P>
</TD>
<TD CLASS="CLASS_75" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.59)</FONT>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.58)</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.62)</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.81)</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (.81)</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_17" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Reimbursement by Advisor</FONT><BR>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        &#151;</FONT>
</P>
</TD>
<TD CLASS="CLASS_75" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        &#151;</FONT>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .00<SUP>***</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        &#151;</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        &#151;</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        &#151;</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_52" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Net asset value, end of period</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_32" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    11.30</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_33" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    9.72</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_32" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    11.79</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_31" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    12.17</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_31" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    12.14</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_31" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    12.42</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_52" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Market value, end of period</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_32" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    10.25</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_33" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    8.26</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_32" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    10.43</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_31" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    10.98</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_31" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    12.40</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_31" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">$    12.03</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="7">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Total Return</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_17" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Based on net asset value&nbsp;(%)<SUP>d</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        21.03<SUP>**</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_75" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (12.55)<SUP>c</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        2.04<SUP>c,e</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5.88<SUP>c</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        4.45</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5.50</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_17" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Based on market value&nbsp;(%)<SUP>d</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        29.19<SUP>**</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_75" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (16.00)</FONT>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        .06</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        (6.47)</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        10.15</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        7.57</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_8">
<TD CLASS="CLASS_51" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="7">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Ratios to Average Net Assets and Supplemental Data</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_17" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Net assets, end of period ($&nbsp;millions)</FONT><BR>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        440</FONT>
</P>
</TD>
<TD CLASS="CLASS_75" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        379</FONT>
</P>
</TD>
<TD CLASS="CLASS_74" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        459</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        474</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        472</FONT>
</P>
</TD>
<TD CLASS="CLASS_73" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        482</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_18" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Ratio of expenses before fee
reductions&nbsp;(%) (based on net assets
of&nbsp;common shares, including interest
expense)<SUP>f,g</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.67<SUP>*</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_72" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        2.04</FONT>
</P>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.39</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.10</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.10</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.06</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_18" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Ratio of expenses after fee reductions&nbsp;(%)
(based on net assets of&nbsp;common shares,
including interest expense)<SUP>f,h</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.67<SUP>*</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_72" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        2.03</FONT>
</P>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.38</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.09</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.10</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.06</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_18" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Ratio of expenses after fee reductions&nbsp;(%)
(based on net assets of&nbsp;common shares,
excluding interest expense)<SUP>i</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.22<SUP>*</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_72" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.15</FONT>
</P>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.10</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.09</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.10</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        1.06</FONT>
</P>
</TD>
</TR>


</TABLE>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_6">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_50" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Years Ended November 30, </FONT></B><FONT SIZE="-2" COLOR="#000000">(continued)</FONT>
</P>
</TD>
<TD CLASS="CLASS_92" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2009<SUP>a</SUP></FONT></B>
</P>
</TD>
<TD CLASS="CLASS_91" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2008</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_91" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2007</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_91" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2006</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_91" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2005</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_91" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">2004</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_103" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Ratio of net investment income&nbsp;(%) (based
on net assets of common shares)</FONT><BR>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        9.90<SUP>*</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        8.08</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        7.19</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        7.13</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        7.00</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        7.15</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_103" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Ratio of net investment income&nbsp;(%) (based
on net assets of common and remarketed
preferred shares)</FONT><BR>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5.99<SUP>*</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5.04</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        4.57</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        4.55</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        4.52</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        4.62</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_103" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Portfolio turnover rate&nbsp;(%)</FONT><BR>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        31<SUP>**</SUP></FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        119</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        57</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        33</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        16</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        25</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_103" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Remarketed preferred shares information at
end of&nbsp;period:</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Aggregate amount outstanding ($&nbsp;millions)</FONT><BR>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        265</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        265</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        265</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        265</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        265</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        265</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_103" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Asset coverage per share&nbsp;($)<SUP>j</SUP></FONT><BR>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        13,310</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        12,151</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        13,667</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        13,949</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        13,912</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        14,097</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_103" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Liquidation and market value per&nbsp;share&nbsp;($)</FONT><BR>
</TD>
<TD CLASS="CLASS_71" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5,000</FONT>
</P>
</TD>
<TD CLASS="CLASS_70" ALIGN="LEFT" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="LEFT"><FONT SIZE="-2" COLOR="#000000">        5,000</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_9">
<TD CLASS="CLASS_66" ALIGN="LEFT" VALIGN="BOTTOM" COLSPAN="7">
<FONT SIZE="-2" COLOR="#000000"><SUP>a</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">For the six months ended May 31, 2009 (Unaudited).</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>b</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">Based on average common shares outstanding during the period.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>c</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">Total return would have been lower had certain fees not been reduced.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>d</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">Total return based on net asset value reflects changes in the Fund's net asset value during
each period. Total return based on market value reflects changes in market value. Each
figure assumes that dividend and capital gains distributions, if any, were reinvested. These
figures will differ depending upon the level of any discount from or premium to net asset
value at which the Fund's shares traded during the period.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>e</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">Includes a non-recurring reimbursement of $175,116 from the Advisor for a fee previously
charged to the Fund. Excluding this non-recurring reimbursement, total return would have
been 0.04% lower.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>f</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">Interest expense represents interest and fees on short term floating rate notes issued in
conjunction with inverse floating rate securities. Interest income from such transactions is
included in income from investment operations.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>g</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">The ratio of expenses before fee reductions (based on net assets of common and
remarketed preferred shares, including interest expense) were 1.01%,* 1.28%, .88%,
..71%, .71% and .68% for the periods ended May 31, 2009, November 30, 2008, 2007,
2006, 2005 and 2004, respectively.<SUP>f</SUP></FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>h</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">The ratio of expenses after fee reductions (based on net assets of common and
remarketed preferred shares, including interest expense) were 1.01%,* 1.27%, .88%,
..70%, .71% and .68% for the periods ended May 31, 2009, November 30, 2008, 2007,
2006, 2005 and 2004, respectively.<SUP>f</SUP></FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000">i       </FONT><I><FONT SIZE="-2" COLOR="#000000">The ratio of expenses after fee reductions (based on net assets of common and
remarketed preferred shares, excluding interest expense) were .74%,* .72%, .70%,
..70%, .71% and .68% for the periods ended May 31, 2009, November 30, 2008, 2007,
2006, 2005 and 2004, respectively.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>j</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">Asset coverage per share equals net assets of common shares plus the redemption value
of the remarketed preferred shares divided by the total number of remarketed preferred
shares outstanding at the end of the period.</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>*</SUP>    </FONT><I><FONT SIZE="-2" COLOR="#000000">Annualized</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>**</SUP>   </FONT><I><FONT SIZE="-2" COLOR="#000000">Not annualized</FONT></I><BR>
<FONT SIZE="-2" COLOR="#000000"><SUP>***</SUP>  </FONT><I><FONT SIZE="-2" COLOR="#000000">Amount is less than $.005.</FONT></I><BR>
</TD>
</TR>


</TABLE>
<P ID="mit.html.24" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#000000"><A NAME="notes" ID="notes"></A></FONT><FONT SIZE="+1" COLOR="#0091ff">Notes to Financial Statements       </FONT><FONT SIZE="-1" COLOR="#0091ff">(Unaudited)</FONT></B>
</P>
<P CLASS="CLASS_14" ALIGN="LEFT"><B><FONT COLOR="#0091ff">A. Organization and Significant Accounting Policies</FONT></B>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">DWS Municipal Income Trust (the ``Fund'') is registered under the
Investment Company Act of 1940, as amended (the ``1940 Act''), as a
closed-end, diversified management investment company organized as a
Massachusetts business trust.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">The Fund's financial statements are prepared in accordance with accounting
principles generally accepted in the United States of America which require
the use of management estimates. Actual results could differ from those
estimates. The policies described below are followed consistently by the
Fund in the preparation of its financial statements.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Security Valuation.</FONT></B> Investments are stated at value determined as of the
close of regular trading on the New York Stock Exchange on each day the
exchange is open for trading. Debt securities are valued by independent
pricing services approved by the Trustees of the Fund, whose valuations are
intended to reflect the mean between the bid and asked prices. If the
pricing services are unable to provide valuations, the securities are valued at
the mean of the most recent bid and asked quotations or evaluated price
obtained from a one or more broker dealers. Such services may use various
pricing techniques which take into account appropriate factors such as yield,
quality, coupon rate, maturity, type of issue, trading characteristics and other
data, as well as broker quotes. </FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">Money market instruments purchased with an original or remaining maturity
of sixty days or less, maturing at par, are valued at amortized cost. </FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">Securities and other assets for which market quotations are not readily
available or for which the above valuation procedures are deemed not to
reflect fair value are valued in a manner that is intended to reflect their fair
value as determined in accordance with procedures approved by the
Trustees. In accordance with the Fund's valuation procedures, factors used
in determining value may include, but are not limited to, the type of the
security; the size of the holding; the initial cost of the security; the existence
of any contractual restrictions on the security's disposition; the price and
extent of public trading in similar securities of the issuer or of comparable
companies, quotations or evaluated prices from broker-dealers and/or
pricing services; information obtained from the issuer, analysts and/or the
appropriate stock exchange (for exchange-traded securities); an analysis of
the company's financial statements; an evaluation of the forces that
influence the issuer and the market(s) in which the security is purchased
and sold and with respect to debt securities; and the maturity, coupon,
creditworthiness, currency denomination and the movement of the market
in which the security is normally traded. The value determined under these
procedures may differ from published values for the same securities.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">New Accounting Pronouncement.</FONT></B> In April 2009, the Financial Accounting
Standards Board (&quot;FASB&quot;) issued FASB Staff Position No. 157-4,
&quot;Determining Fair Value When the Volume and Level of Activity for the
Asset or Liability Have Significantly Decreased and Identifying Transactions
That Are Not Orderly&quot; (&quot;FSP 157-4&quot;). FSP 157-4 provides additional
guidance for estimating fair value in accordance with Statement of Financial
Accounting Standards No. 157, &quot;Fair Value Measurements,&quot; when the
volume and level of activity for the asset or liability have significantly
decreased as well as guidance on identifying circumstances that indicate a
transaction is not orderly. FSP 157-4 is effective for fiscal years and interim
periods ending after June 15, 2009. Management is currently reviewing the
enhanced disclosure requirements for the adoption of FSP 157-4.</FONT>
</P>
<P ID="mit.html.25" CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">When-Issued/Delayed Delivery Securities.</FONT></B> The Fund may purchase
securities with delivery or payment to occur at a later date beyond the
normal settlement period. At the time the Fund enters into a commitment to
purchase a security, the transaction is recorded and the value of the security
is reflected in the net asset value. The price of such security and the date
when the security will be delivered and paid for are fixed at the time the
transaction is negotiated. The value of the security may vary with market
fluctuations. No interest accrues to the Fund until payment takes place. At
the time the Fund enters into this type of transaction it is required to
segregate cash or other liquid assets at least equal to the amount of the
commitment.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">Certain risks may arise upon entering into when-issued or delayed delivery
securities from the potential inability of counterparties to meet the terms of
their contracts or if the issuer does not issue the securities due to political,
economic, or other factors. Additionally, losses may arise due to changes in
the value of the underlying securities.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Inverse Floaters. </FONT></B>Inverse floating rate notes are debt instruments with a
weekly floating rate of interest that bears an inverse relationship to changes
in short-term market interest rates. Investments in this type of instrument
involve special risks as compared to investments in a fixed rate municipal
security. The debt instrument in which the Fund may invest is a tender
option bond trust (the &quot;trust&quot;) which can be established by the Fund, a
financial institution, or broker, consisting of underlying municipal obligations
with intermediate to long maturities and a fixed interest rate (&quot;underlying
bond&quot;). Other investors in the trust usually consist of money market fund
investors receiving weekly floating interest rate payments who have put
options with the financial institutions. The Fund may enter into shortfall and
forbearance agreements by which a Fund agrees to reimburse the trust, in
certain circumstances, for the difference between the liquidation value of
the fixed rate municipal security held by the trust and the liquidation value of
the floating rate notes. Certain inverse floating rate securities held by the
Fund have been created with bonds purchased by the Fund and
subsequently transferred to the trust. These transactions are considered a
form of financing for accounting purposes. As a result, the Fund includes the
underlying bond in its investment portfolio and a corresponding liability in
the statement of assets and liabilities equal to the floating rate note issued.
When a trust is terminated and/or collapsed by either party, the related fixed
rate securities held by the trust are delivered back to the Fund where they
are either held or sold, and the related liability of the floating rate note
issued is adjusted. The Fund does not consider the Fund's investment in
inverse floaters borrowing within the meaning of the 1940 Act. Inverse
floating rate notes exhibit added interest rate sensitivity compared to other
bonds with a similar maturity. Moreover, since these securities are in a trust
form, a sale may take longer to settle than the standard two days after the
trade date.</FONT>
</P>
<P ID="mit.html.26" CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">The weighted average outstanding daily balance of the floating rate notes
during the six months ended May 31, 2009 was approximately
$170,101,000, with a weighted average interest rate of 1.07%.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Federal Income Taxes.</FONT></B> The Fund's policy is to comply with the requirements
of the Internal Revenue Code, as amended, which are applicable to
regulated investment companies, and to distribute all of its taxable and
tax-exempt income to its shareholders. </FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">At November 30, 2008, the Fund had a net tax basis capital loss
carryforward of approximately $9,605,000, which may be applied against
any realized net taxable capital gains of each succeeding year until fully
utilized or until November 30, 2010 ($1,323,000), November 30, 2014
($912,000) and November&nbsp;30, 2016 ($7,370,000), the respective expiration
dates, whichever occurs first.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">In addition, from November 1, 2008 through November 30, 2008, the Fund
incurred approximately $2,191,000 of net realized capital losses. As
permitted by tax regulations, the Fund intends to elect to defer these losses
and treat them as arising in the fiscal year ended November 30, 2009.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">The Fund has reviewed the tax positions for the open tax years as of
November 30, 2008 and has determined that no provision for income tax is
required in the Fund's financial statements. The Fund's federal tax returns
for the prior three fiscal years remain subject to examination by the Internal
Revenue Service.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Distribution of Income and Gains.</FONT></B> Net investment income of the Fund is
declared and distributed to shareholders monthly. Net realized gains from
investment transactions, in excess of available capital loss carryforwards,
would be taxable to the Fund if not distributed, and, therefore, will be
distributed to shareholders at least annually.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">The timing and characterization of certain income and capital gains
distributions are determined annually in accordance with federal tax
regulations, which may differ from accounting principles generally accepted
in the United States of America. These differences primarily relate to certain
securities sold at a loss and accretion of market discount on debt securities.
As a result, net investment income (loss) and net realized gain (loss) on
investment transactions for a reporting period may differ significantly from
distributions during such period. Accordingly, the Fund may periodically
make reclassifications among certain of its capital accounts without
impacting the net asset value of the Fund.</FONT>
</P>
<P ID="mit.html.27" CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">The tax character of current year distributions will be determined at the end
of the current fiscal year.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Remarketed Preferred Shares.</FONT></B> The Fund has issued and outstanding 10,800
Series&nbsp;A, 10,700 Series B, 10,800 Series C, 10,700 Series D and 10,000
Series E remarketed preferred shares (&quot;Remarketed Preferred Shares&quot;),
each at a liquidation value of $5,000 per share. The Remarketed Preferred
Shares are senior to and have certain class specific preferences over the
common shares. The dividend rate on each series of Remarketed Preferred
Shares is set through a remarketing process, and the dividends are generally
paid every seven days (prior to March 18, 2008, dividends were paid every
28 days). The remarketing agent receives an annualized fee from the Fund of
0.25% times the liquidation value of the Fund's Remarketed Preferred
Shares (remarketing agent fee) and is responsible for the payment of any
commissions to broker-dealers participating in the remarketing process
based on shares sold. Currently, the remarketing agent is the only
participating broker-dealer. When remarketing the Remarketed Preferred
Shares, the remarketing agent canvasses the Remarketed Preferred Shares
market and may receive indications of dividend preferences from
Remarketed Preferred Shares investors. Based on its assessment of the
demand for the Remarketed Preferred Shares as well as other factors,
including interest rates and general industry and financial conditions, the
remarketing agent determines a non-binding dividend rate for the next
dividend period. The remarketing agent then receives buy, tender and hold
orders from existing and potential holders. The remarketing agent sets the
final dividend rate at the lowest available that would enable the remarketing
agent to remarket all of the shares tendered at the Remarketed Preferred
Shares liquidation preference of $5,000 per share. For remarketing to be
successful, the number of shares bid must meet or exceed the number of
shares being offered for sale. Since February 2008 remarketings have failed
because there were not enough bids to cover the shares for sale, indicating
a lack of liquidity in the market. If a remarketing fails, the Remarketed
Preferred Shares' dividend rate adjusts to a &quot;maximum rate,&quot; which, based
on current Remarketed Preferred Share ratings (AAA as of May 31, 2009), is
determined to be the maximum rate, initially 110% of the Commercial Paper
Rate (generally defined as the 60-day AA/Aa commercial paper rate). The
maximum rate increases to 125% of the Commercial Paper Rate on the
seventh day after such determination. In addition, existing Remarketed
Preferred Shareholders that submit sell orders in a failed remarketing may
not be able to sell any or all of the shares for which they have submitted sell
orders. Remarketed Preferred Shareholders may sell their shares at the next
scheduled remarketing, subject to the same risk that the subsequent
remarketing will not attract sufficient demand for a successful remarketing
to occur. The next succeeding dividend period following the remarketing
failure automatically adjusts to a 7-day period, which continues until the next
successful remarketing. Broker-dealers may also try to facilitate secondary
trading in the Remarketed Preferred Shares, although such secondary
trading may be limited and may only be available for shareholders willing to
sell at a discount.</FONT>
</P>
<P ID="mit.html.28" CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">During the six months ended May 31, 2009, the dividend rates ranged from
0.313% to 2.420% for Series A, 0.313% to 2.420% for Series B, 0.313% to
2.420% for Series C, 0.313% to 2.420% for Series D and 0.313% to
2.358% for Series E. The 1940 Act requires that the Remarketed Preferred
Shareholders of the Fund, voting as a separate class, have the right to:
a)&nbsp;elect at least two trustees at all times, and b) elect a majority of the
trustees at any time when dividends on the Remarketed Preferred Shares
are unpaid for two full years. Unless otherwise required by law or under the
terms of the Remarketed Preferred Shares designation statement, each
Remarketed Preferred Shareholder is entitled to one vote and Remarketed
Preferred Shareholders will vote together with common shareholders as a
single class and have the same voting rights.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">While repeated remarketing fails have affected the liquidity for the
Remarketed Preferred Shares, a failed remarketing does not represent a
default or loss of capital of the Fund's Remarketed Preferred Shares and the
Remarketed Preferred Shareholders have continued to receive dividends at
the previously defined &quot;maximum rate.&quot; As of May&nbsp;31, 2009, the
Remarketed Preferred Shares of the Fund continue to be AAA rated by its
respective rating agencies. Prolonged remarketing failures may increase the
cost of leverage to the Fund. </FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">On July 15, 2009, the Board of Trustees approved a partial redemption of
25% of the Fund's outstanding Remarketed Preferred Shares with the
proceeds of a tender option bond program at the redemption price per share
equal to the sum of $5,000 plus accumulated but unpaid dividends.  These
investments are expected to lower the costs of leverage for the Fund over
time.  The Fund is scheduled to redeem approximately $66 million of its
$265 million currently outstanding Remarketed Preferred Shares in late
August 2009. DWS Investments continues to work diligently to identify
viable alternative solutions for restructuring the remaining outstanding
Remarketed Preferred Shares for the Fund.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Statement of Cash Flows.</FONT></B> Information on financial transactions which have
been settled through the receipt and disbursement of cash is presented in
the Statement of Cash Flows. The cash amount shown in the Statement of
Cash Flows represents the cash position at the Fund's custodian bank at
May&nbsp;31, 2009.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Contingencies.</FONT></B><FONT COLOR="#000000"> In the normal course of business, the Fund may enter into
contracts with service providers that contain general indemnification
clauses. The Fund's maximum exposure under these arrangements is
unknown as this would involve future claims that may be made against the
Fund that have not yet been made. However, based on experience, the Fund
expects the risk of loss to be remote.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Other. </FONT></B>Investment transactions are accounted for on a trade date plus one
basis for daily net asset value calculations. However, for financial reporting
purposes, investment transactions are reported on trade date. Interest
income is recorded on the accrual basis. Realized gains and losses from
investment transactions are recorded on an identified cost basis. All
premiums and discounts are amortized/accreted for financial reporting
purposes, with the exception of securities in default of principal.</FONT>
</P>
<P ID="mit.html.29" CLASS="CLASS_14" ALIGN="LEFT"><B><FONT COLOR="#0091ff">B. Purchases and Sales of Securities</FONT></B>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">During the six months ended May 31, 2009, purchases and sales of
investment securities (excluding short-term investments) aggregated
$206,209,507 and $215,308,308, respectively.</FONT>
</P>
<P CLASS="CLASS_14" ALIGN="LEFT"><B><FONT COLOR="#0091ff">C. Related Parties</FONT></B>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Management Agreement.</FONT></B> Under the Investment Management Agreement
with Deutsche Investment Management Americas Inc. (&quot;DIMA&quot; or the
&quot;Advisor&quot;), an indirect, wholly owned subsidiary of Deutsche Bank AG, the
Advisor directs the investments of the Fund in accordance with its
investment objectives, policies and restrictions. The Advisor determines the
securities, instruments and other contracts relating to investments to be
purchased, sold or entered into by the Fund. In addition to portfolio
management services, the Advisor provides certain administrative services
in accordance with the Investment Management Agreement. The
management fee payable under the Investment Management Agreement is
equal to an annualized rate of 0.55% of the Fund's average weekly total net
assets, computed and accrued daily and payable monthly. </FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Service Provider Fees.</FONT></B> DWS Investments Service Company (&quot;DISC&quot;), an
affiliate of the Advisor, is the transfer agent, dividend-paying agent and
shareholder service agent for the Fund. Pursuant to a sub-transfer agency
agreement between DISC and DST Systems, Inc. (&quot;DST&quot;), DISC has
delegated certain transfer agent, dividend-paying agent and shareholder
service agent functions to DST. DISC compensates DST out of the
shareholder servicing fee it receives from the Fund. For the six months
ended May 31, 2009, the amount charged&nbsp;to the Fund by DISC aggregated
$15,270, all of which is unpaid.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Typesetting and Filing Service Fees.</FONT></B> Under an agreement with DIMA, DIMA
is compensated for providing typesetting and certain regulatory filing
services to the Fund. For the six months ended May 31, 2009, the amount
charged to the Fund by DIMA included in the Statement of Operations
under &quot;reports to shareholders&quot; aggregated $6,280, of which $5,925 is
unpaid.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Trustees' Fees and Expenses.</FONT></B> The Fund paid each Trustee not affiliated with
the Advisor retainer fees plus specified amounts for various committee
services and for the Board Chairperson.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000"><B><FONT SIZE="-1">Other Related Parties.</FONT></B> Deutsche Bank Trust Company Americas, an affiliate
of the Advisor, charges an administration fee for the remarketed preferred
shares. For the period ended May 31, 2009, the amount charged to the Fund
by the Deutsche Bank Trust Company Americas aggregated $12,444, all of
which is unpaid.</FONT>
</P>
<P ID="mit.html.30" CLASS="CLASS_14" ALIGN="LEFT"><B><FONT COLOR="#0091ff">D. Fee Reductions</FONT></B>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">The Fund has entered into an arrangement with its custodian whereby
credits realized as a result of uninvested cash balances are used to reduce a
portion of the Fund's custodian expenses. During the six months ended May
31, 2009, the Fund's custodian fee was reduced by $6 for custody credits
earned.</FONT>
</P>
<P CLASS="CLASS_14" ALIGN="LEFT"><B><FONT COLOR="#0091ff">E. Line of Credit </FONT></B>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">The Fund and other affiliated funds (the &quot;Participants&quot;) share in a
$450&nbsp;million revolving credit facility provided by a syndication of banks. The
Fund may borrow for temporary or emergency purposes, including the
meeting of redemption requests that otherwise might require the untimely
disposition of securities. The Participants are charged an annual
commitment fee which is allocated based on net assets, among each of the
Participants. Interest is calculated at a rate per annum equal to the sum of
the Federal Funds Rate plus 1.25 percent plus if LIBOR exceeds the Federal
Funds Rate the amount of such excess. The Fund may borrow up to a
maximum of 33 percent of its net assets under the agreement.</FONT>
</P>
<P CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#000000"><A NAME="other" ID="other"></A></FONT><FONT SIZE="+1" COLOR="#0091ff">Other Information</FONT></B>
</P>
<P CLASS="CLASS_9" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Certifications</FONT></B>
</P>
<P CLASS="CLASS_9" ALIGN="LEFT"><FONT COLOR="#000000">The Fund's chief executive officer has certified to the New York Stock
Exchange that, as of June 24, 2009, he was not aware of any violation by
the Fund of applicable NYSE corporate governance listing standards. The
Fund's reports to the Securities and Exchange Commission on Forms N-CSR
and N-Q contain certifications by the Fund's chief executive officer and chief
financial officer that relate to the Fund's disclosure in such reports and that
are required by rule 30a-2 under the 1940 Act.</FONT>
</P>
<P CLASS="CLASS_9" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Amended and Restated Bylaws</FONT></B>
</P>
<P CLASS="CLASS_9" ALIGN="LEFT"><FONT COLOR="#000000">On March 11, 2009, the Fund's Board of Trustees amended and restated the
Fund's by-laws in their entirety (the &quot;Amended and Restated Bylaws&quot;). The
Amended and Restated Bylaws provide for, among other things, (i) a
classified Board; (ii) certain advance notice requirements for a shareholder to
properly bring a matter, including nominees for Trustee, before a shareholder
meeting; and (iii) certain procedural requirements for shareholders to call a
meeting of shareholders.</FONT>
</P>
<P CLASS="CLASS_9" ALIGN="LEFT"><B><FONT SIZE="-1" COLOR="#000000">Notice of Possible Share Repurchases</FONT></B>
</P>
<P ID="mit.html.31" CLASS="CLASS_9" ALIGN="LEFT"><FONT COLOR="#000000">In accordance with Section 23(c) of the Investment Company Act of 1940,
the Fund hereby gives notice that it may from time to time repurchase
shares of the Fund in the open market at the option of the Board of Trustees
and on such terms as the Trustees may determine.</FONT>
</P>
<P ID="mit.html.32" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff"><A NAME="smr" ID="smr"></A>Shareholder Meeting Results    </FONT><FONT SIZE="-1" COLOR="#0091ff">(Unaudited)</FONT></B>
</P>
<P CLASS="CLASS_9" ALIGN="LEFT"><FONT COLOR="#000000">The Annual Meeting of Shareholders (the &quot;Meeting&quot;) of DWS Municipal
Income Trust (the &quot;Fund&quot;) was held on May 28, 2009 at the New York
Marriott East Side, 525 Lexington Avenue, New York, New York 10017. At the
Meeting, the following matter was voted upon by the shareholders (the
resulting votes are presented below).</FONT>
</P>
<P CLASS="CLASS_11" ALIGN="LEFT"><FONT COLOR="#000000">1.       Election of Trustees &#151; Class I</FONT>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="CENTER" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Number of Votes:</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_90" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_89" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">For</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_89" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Withheld</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_2">
<TD CLASS="CLASS_102" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Dawn-Marie Driscoll</FONT><BR>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">32,907,250</FONT>
</P>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">2,091,783</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_2">
<TD CLASS="CLASS_102" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Keith R. Fox</FONT><BR>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">32,973,312</FONT>
</P>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">2,025,721</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_2">
<TD CLASS="CLASS_102" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Richard J. Herring</FONT><BR>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">32,991,832</FONT>
</P>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">2,007,201</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_2">
<TD CLASS="CLASS_102" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">William N. Searcy, Jr.</FONT><BR>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">32,960,493</FONT>
</P>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">2,038,540</FONT>
</P>
</TD>
</TR>


</TABLE>
<P CLASS="CLASS_11" ALIGN="LEFT"><FONT COLOR="#000000"> Election of Trustees &#151; Preferred Shareholders only</FONT>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_1">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="CENTER" VALIGN="BOTTOM" COLSPAN="3">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Number of Votes:</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_90" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_89" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">For</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_89" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><B><FONT SIZE="-2" COLOR="#000000">Withheld</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_2">
<TD CLASS="CLASS_102" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Robert H. Wadsworth</FONT><BR>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">52,559</FONT>
</P>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">20</FONT>
</P>
</TD>
</TR>

<TR CLASS="CLASS_2">
<TD CLASS="CLASS_102" ALIGN="LEFT" VALIGN="BOTTOM">
<FONT SIZE="-2" COLOR="#000000">Axel Schwarzer </FONT><BR>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">52,559</FONT>
</P>
</TD>
<TD CLASS="CLASS_44" ALIGN="CENTER" VALIGN="BOTTOM">
<P CLASS="CLASS_2" ALIGN="CENTER"><FONT SIZE="-2" COLOR="#000000">20</FONT>
</P>
</TD>
</TR>


</TABLE>
<P ID="mit.html.33" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff"><A NAME="drp" ID="drp"></A>Dividend Reinvestment Plan</FONT></B>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">A summary of the Fund's Dividend Reinvestment Plan (the &quot;Plan&quot;) is set
forth below. Shareholders may obtain a copy of the entire Plan by visiting
the Fund's Web site at www.dws-investments.com or by writing or calling
DWS Investment Service Company (&quot;DISC&quot;) at:</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">P.O. Box 219066<BR>
Kansas City, Missouri 64121-9066<BR>
(800) 294-4366</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">If you wish to participate in the Plan and your shares are held in your own
name, simply contact DISC for the appropriate form. If your shares are held
in the name of a broker or other nominee, you should contact the broker or
nominee in whose name your shares are held to determine whether and
how you may participate in the Plan. The Fund's transfer agent and dividend
disbursing agent (the &quot;Transfer Agent&quot;) will establish a&nbsp;Dividend Investment
Account (the &quot;Account&quot;) for each shareholder participating in the Plan. The
Transfer Agent will credit to the Account of each participant any cash
dividends and capital gains distributions (collectively, &quot;Distributions&quot;) paid
on shares of the Fund (the &quot;Shares&quot;). Shares in a participant's Account are
transferable upon proper written instructions to the Transfer Agent. Upon
request to the Transfer Agent, a certificate for any or all full Shares in a
participant's Account will be sent to&nbsp;the participant.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">If, on the record date for a Distribution (the &quot;Record Date&quot;), Shares are
trading at a discount from net asset value per Share, funds credited to a
participant's Account will be used to purchase Shares (the &quot;Purchase&quot;). The
Plan Agent (currently Computershare Inc.) will attempt, commencing five
days prior to the Payment Date and ending at the close of business on the
Payment Date (&quot;Payment Date&quot; as used herein shall mean the last business
day of the month in which such Record Date occurs), to acquire Shares in
the open market. If and to the extent that the Plan Agent is unable to
acquire sufficient Shares to satisfy the Distribution by the close of business
on the Payment Date, the Fund will issue to the Plan Agent, Shares valued
at net asset value per Share in the aggregate amount of the remaining value
of the Distribution. If, on the Record Date, Shares are trading at a premium
over net asset value per Share, the Fund will issue on the Payment Date
Shares valued at net asset value per Share on the Record Date to the
Transfer Agent in the aggregate amount of the funds credited to the
participants' Accounts. The Fund will increase the price at which Shares may
be issued under the Plan to 95% of the fair market value of the shares on
the Record Date if the net asset value per Share of the Shares on the
Record Date is less than 95% of the fair market value of the Shares on the
Record Date.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">The cost of Shares acquired for each participant's Account in connection
with a Purchase shall be determined by the average cost per Share,
including brokerage commissions, of the Shares acquired in connection with
that Purchase. There will be no brokerage charges with respect to Shares
issued directly by the Fund as a result of Distributions. However, each
participant will pay a pro rata share of brokerage commissions incurred with
respect to open market purchases. Brokerage charges for purchasing small
amounts of Shares for individual Accounts through the Plan can be expected
to be less than the usual brokerage charges for such&nbsp;transactions, as the
Plan Agent will be purchasing Shares for all participants in blocks and
prorating the lower commission thus attainable.</FONT>
</P>
<P ID="mit.html.34" CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">A participant may from time to time make voluntary cash contributions to
his Account in a minimum amount of $100 (no more than $500 may be
contributed per month). Participants making voluntary cash investments will
be charged a $0.75 service fee for each such investment and will be
responsible for their pro rata share of brokerage commissions. Please
contact DISC for more information on voluntary cash contributions.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">The Fund reserves the right to amend the Plan, including provisions with
respect to any Distribution paid, subsequent to notice thereof sent to
participants in the Plan at least ninety days before the record date for such
Distribution, except when such amendment is necessary or appropriate
to&nbsp;comply with applicable law or the rules or policies of the Securities and
Exchange Commission or any other regulatory authority, in which case such
amendment shall be effective as soon as practicable. The Plan may be
terminated by the Fund. </FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">Shareholders may withdraw from the Plan at any time by giving the Transfer
Agent a written notice. A notice of withdrawal will be effective for&nbsp;the next
Distribution following receipt of the notice by the Transfer Agent provided
the notice is received by the Transfer Agent at least ten days prior to the
Record Date for the Distribution. When a participant withdraws from the
Plan, or when the Plan is terminated by the Fund, the participant will receive
a certificate for full Shares in the Account, plus a check for any fractional
Shares based on market price; or, if a Participant so desires, the Transfer
Agent will notify the Plan Agent to sell his Shares in the Plan and send the
proceeds to the participant, less brokerage commissions and a $2.50
service fee.</FONT>
</P>
<P CLASS="CLASS_29" ALIGN="LEFT"><FONT COLOR="#000000">Shareholders will receive tax information annually for personal records and
to assist in preparation of their federal income tax returns. If Shares are
purchased at a discount, the amount of the discount is considered taxable
income and is added to the cost basis of the purchased Shares.</FONT>
</P>
<P ID="mit.html.35" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff"><A NAME="addinfo" ID="addinfo"></A>Additional Information</FONT></B>
</P>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_6">
<TR CLASS="CLASS_4">
<TD CLASS="CLASS_30" ALIGN="LEFT" VALIGN="TOP" COLSPAN="2">
<P CLASS="CLASS_2" ALIGN="LEFT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">Automated
Information Line</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">DWS Investments Closed-End Fund Info Line</FONT></B>
</P>
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">(800) 349-4281</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">Web Site</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">www.dws-investments.com </FONT></B>
</P>
<FONT SIZE="-2" COLOR="#000000">Obtain quarterly fact sheets, financial reports, press releases and
webcasts when available.</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">Written
Correspondence</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Deutsche Investment Management Americas Inc.</FONT></B>
</P>
<FONT SIZE="-2" COLOR="#000000">345 Park Avenue</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">New York, NY 10154</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">Proxy Voting</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">The fund's policies and procedures for voting proxies for portfolio
securities and information about how the fund&nbsp;voted proxies related to
its portfolio securities during the 12-month period ended </FONT><FONT SIZE="-2" COLOR="#000000">June&nbsp;30</FONT><FONT SIZE="-2" COLOR="#000000"> are
available on our Web site &#151; www.dws-investments.com (click on
&quot;proxy voting&quot;at the bottom of the&nbsp;page) &#151; or on the SEC's Web site
&#151; www.sec.gov. To obtain a written copy of the fund's policies and
procedures without charge, upon request, call us toll free at (800)
621-1048.</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">Legal Counsel</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Vedder Price P.C.</FONT></B>
</P>
<FONT SIZE="-2" COLOR="#000000">222 North LaSalle Street</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Chicago, IL 60601</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">Dividend
Reinvestment
Plan&nbsp;Agent</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Computershare Inc.</FONT></B>
</P>
<FONT SIZE="-2" COLOR="#000000">P.O. Box 43078</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Providence, RI 02940-3078</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">Shareholder
Service Agent and
Transfer Agent</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">DWS Investments Service Company</FONT></B>
</P>
<FONT SIZE="-2" COLOR="#000000">P.O. Box 219066</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Kansas City, MO 64121-9066</FONT><BR>
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">(800) 294-4366</FONT></B>
</P>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">Custodian</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">State Street Bank and Trust Company</FONT></B>
</P>
<FONT SIZE="-2" COLOR="#000000">225 Franklin Street</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Boston, MA 02110</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">Independent
Registered Public
Accounting Firm</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<P CLASS="CLASS_2" ALIGN="LEFT"><B><FONT SIZE="-2" COLOR="#000000">Ernst &amp; Young LLP</FONT></B>
</P>
<FONT SIZE="-2" COLOR="#000000">200 Clarendon Street</FONT><BR>
<FONT SIZE="-2" COLOR="#000000">Boston, MA 02116</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">NYSE Symbol</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_49" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">KTF</FONT><BR>
</TD>
</TR>


</TABLE>
<TABLE BORDER="1" CELLPADDING=0 CELLSPACING=0 CLASS="CLASS_5">
<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><B><FONT SIZE="-2" COLOR="#0091ff">CUSIP Numbers</FONT></B>
</P>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">Common Shares</FONT><BR>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">23338M 106</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">Series A (Preferred Shares)</FONT><BR>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">23338M 205</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">Series B (Preferred Shares)</FONT><BR>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">23338M 304</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">Series C (Preferred Shares)</FONT><BR>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">23338M 403</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">Series D (Preferred Shares)</FONT><BR>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">23338M 502</FONT><BR>
</TD>
</TR>

<TR CLASS="CLASS_3">
<TD CLASS="CLASS_12" ALIGN="RIGHT" VALIGN="TOP">
<P CLASS="CLASS_13" ALIGN="RIGHT"><I><FONT SIZE="-2" COLOR="#000000">&nbsp;</FONT></I>
</P>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">Series E (Preferred Shares)</FONT><BR>
</TD>
<TD CLASS="CLASS_101" ALIGN="LEFT" VALIGN="TOP">
<FONT SIZE="-2" COLOR="#000000">23338M 601</FONT><BR>
</TD>
</TR>


</TABLE>
<P ID="mit.html.36" CLASS="CLASS_115" ALIGN="LEFT"><B><FONT SIZE="+1" COLOR="#0091ff"><A NAME="priv" ID="priv"></A>Privacy Statement</FONT></B>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><FONT COLOR="#000000">Dear Valued Client:</FONT>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><FONT COLOR="#000000">We want to make sure you know our policy regarding the way in which our
clients' private information is handled at DWS Investments. The following
information is issued by DWS Investments Distributors, Inc., Deutsche
Investment Management Americas Inc., DeAM Investor Services, Inc.,
DWS Trust Company and the DWS Funds.</FONT>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><B><FONT COLOR="#000000">We consider privacy fundamental to our client relationships and adhere
to the policies and practices described below to protect current and
former clients' information.</FONT></B><FONT COLOR="#000000"> We never sell customer lists or individual
client information. Internal policies are in place to protect confidentiality,
while allowing client needs to be served. Only individuals who need to do
so in carrying out their job responsibilities may access client information. We
maintain physical, electronic and procedural safeguards that comply with
federal and state standards to protect confidentiality. These safeguards
extend to all forms of interaction with us, including the Internet.</FONT>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><FONT COLOR="#000000">In the normal course of business, clients give us nonpublic personal
information on applications and other forms, on our Web sites, and through
transactions with us or our affiliates. Examples of the nonpublic personal
information collected are name, address, Social Security number, and
transaction and balance information. To be able to serve our clients, certain
of this client information is shared with affiliated and nonaffiliated third party
service providers such as transfer agents, custodians and broker-dealers to
assist us in processing transactions and servicing your&nbsp;account. </FONT>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><FONT COLOR="#000000">In addition, we may disclose the information we collect to companies that
perform marketing services on our behalf or to other financial institutions
with which we have joint marketing agreements. These organizations may
only use client information for the purpose designated by the companies
listed above, and additional requirements beyond federal law may be
imposed by certain states. To the extent that these state laws apply, we will
comply with them before we share information about you. </FONT>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><FONT COLOR="#000000">We may also disclose nonpublic personal information about you to other
parties as required or permitted by law. For example, we are required to or
may provide information to government entities or regulatory bodies in
response to requests for information or subpoenas, to private litigants in
certain circumstances, to law enforcement authorities, or any time we
believe it necessary to protect the firm. </FONT>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><FONT COLOR="#000000">At any time, if you have questions about our policy, please write to us at: </FONT>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><FONT COLOR="#000000">DWS Investments <BR>
Attention: Correspondence &#151; Chicago<BR>
P.O. Box 219415<BR>
Kansas City, MO  64121-9415     September 2008</FONT>
</P>
<P CLASS="CLASS_28" ALIGN="LEFT"><IMG SRC="mit_backcover0.gif" ALT="mit_backcover0">
</P>



<div TITLE="EE+ Page Break" STYLE="PAGE-BREAK-AFTER: always"><HR noshade align="center" width="100%" size="2">
</DIV>


<div style='width:600;'>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="655" style='border-collapse:collapse'>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 2.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>CODE OF ETHICS</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Not applicable.</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 3.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>AUDIT COMMITTEE FINANCIAL EXPERT</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Not applicable.</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 4.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>PRINCIPAL ACCOUNTANT FEES AND SERVICES</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Not applicable.</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="655" style='border-collapse:collapse'>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 5.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>AUDIT COMMITTEE OF LISTED REGISTRANTS</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Not Applicable</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 6.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>SCHEDULE OF INVESTMENTS</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Not Applicable</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 7.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Not applicable.</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 8.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Not applicable.</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="655" style='border-collapse:collapse'>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 9.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS</font></B></p> </td> </tr></table>
</div>

<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="648" style='margin-left:5.4pt;border-collapse:collapse'>
    <tr style='height:107.75pt'>
        <td width="240" nowrap valign=bottom style='border:solid black 1.0pt; border-right:none;padding: 0in 5.4pt 0in 5.4pt;height:107.75pt'>
            <p style='margin-left:0pt;text-indent:3.75pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Period</font></p> </td>
        <td width="108" nowrap valign=bottom style='border:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:107.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Total Number of Shares Purchased</font></p> </td>
        <td width="84" nowrap valign=bottom style='border-top:solid black 1.0pt; border-left:none;border-bottom:solid black 1.0pt;border-right:none;  padding:0in 5.4pt 0in 5.4pt;height:107.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Average Price Paid per Share</font></p> </td>
        <td width="108" nowrap valign=bottom style='border:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:107.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(c)</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs</font></p> </td>
        <td width="108" nowrap valign=bottom style='border:solid black 1.0pt; border-left:none;padding: 0in 5.4pt 0in 5.4pt;height:107.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(d) </font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs</font></p> </td> </tr>
    <tr style='height:.1in'>
        <td width="240" nowrap valign=bottom style='border-left: solid black 1.0pt;padding:0in 5.4pt 0in 5.4pt; height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>December 1 through December 31</font></p> </td>
        <td width="108" nowrap valign=bottom style='border-top:none; border-left:solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>0</font></p> </td>
        <td width="84" nowrap valign=bottom style='border-right: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td> </tr>
    <tr style='height:.1in'>
        <td width="240" nowrap valign=bottom style='border-left: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>January 1 through January 31</font></p> </td>
        <td width="108" nowrap valign=bottom style='border-top:none; border-left:solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>0</font></p> </td>
        <td width="84" nowrap valign=bottom style='border-right: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td> </tr>
    <tr style='height:.1in'>
        <td width="240" nowrap valign=bottom style='border-left: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>February 1 through February 28</font></p> </td>
        <td width="108" nowrap valign=bottom style='border-top:none; border-left:solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>0</font></p> </td>
        <td width="84" nowrap valign=bottom style='border-right: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td> </tr>
    <tr style='height:.1in'>
        <td width="240" nowrap valign=bottom style='border-left: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>March 1 through March 31</font></p> </td>
        <td width="108" nowrap valign=bottom style='border-top:none; border-left:solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>0</font></p> </td>
        <td width="84" nowrap valign=bottom style='border-right: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td> </tr>
    <tr style='height:.1in'>
        <td width="240" nowrap valign=bottom style='border-left: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>April 1 through April 30</font></p> </td>
        <td width="108" nowrap valign=bottom style='border-top:none; border-left:solid black 1.0pt;border-bottom:none;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>0</font></p> </td>
        <td width="84" nowrap valign=bottom style='border-right: solid black 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style=' border-right:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td> </tr>
    <tr style='height:.1in'>
        <td width="240" nowrap valign=bottom style='border-top:none; border-left:solid black 1.0pt;border-bottom:solid black 1.0pt; border-right:none;padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>May 1 through May 31</font></p> </td>
        <td width="108" nowrap valign=bottom style='border:solid black 1.0pt; border-top:none;padding: 0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>0&nbsp;</font></p> </td>
        <td width="84" nowrap valign=bottom style='border-top:none; border-left:none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a&nbsp;</font></p> </td>
        <td width="108" nowrap valign=bottom style='border-top:none; border-left:none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a&nbsp;</font></p> </td>
        <td width="108" nowrap valign=bottom style='border-top:none; border-left:none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;  padding:0in 5.4pt 0in 5.4pt;height:.1in'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a&nbsp;</font></p> </td> </tr>
    <tr style='height:15.75pt'>
        <td width="240" nowrap valign=bottom style='border-top:none; border-left:solid black 1.0pt;border-bottom:solid black 1.0pt; border-right:none;padding:0in 5.4pt 0in 5.4pt;height:15.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Total </font></p> </td>
        <td width="108" nowrap valign=bottom style='border:solid black 1.0pt; border-top:none; padding:0in 5.4pt 0in 5.4pt;height:15.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>0</font></p> </td>
        <td width="84" nowrap valign=bottom style='border-top:none; border-left:none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:15.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style='border-top:none; border-left:none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:15.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td>
        <td width="108" nowrap valign=bottom style='border-top:none; border-left:none;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;   padding:0in 5.4pt 0in 5.4pt;height:15.75pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>n/a</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="655" style='border-collapse:collapse'>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 10.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Chairman of the Board, P.O. Box 100176, Cape Coral, FL 33910.</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 11.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>CONTROLS AND PROCEDURES</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:.5in;text-indent:-.5in;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Chief Executive and Financial Officers concluded that the Registrant&#146;s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There have been no changes in the registrant&#146;s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal controls over financial reporting.</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>ITEM 12.</font></B></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><B><font SIZE=2>EXHIBITS</font></B></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)(1)&nbsp;&nbsp;&nbsp;Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="103" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="551" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:30.6pt;text-indent:-30.6pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div TITLE="EE+ Page Break" STYLE="PAGE-BREAK-AFTER: always"><HR noshade align="center" width="100%" size="2">
</DIV>
</DIV>


<div style='width:600;'>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Form N-CSRS Item F</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><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>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="590" style='border-collapse:collapse'>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Registrant:</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Michael G. Clark</font></u></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Michael G. Clark</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>President</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>July 30, 2009</font><u></u></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><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>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="590" style='border-collapse:collapse'>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Registrant:</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Michael G. Clark</font></u></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Michael G. Clark</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>President</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>July 30, 2009</font><u></u></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Paul Schubert</font></u></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Paul Schubert</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Chief Financial Officer and Treasurer</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="200" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Date:</font></p> </td>
        <td width="390" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>July 30, 2009</font><u></u></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>4
<FILENAME>ex99certsemi.htm
<DESCRIPTION>CERTIFICATIONS
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<p style=' margin-bottom:3pt; margin-top:12pt;text-align:right;'><img src="img1.gif"><br> </p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:3pt; margin-top:12pt;text-align:left;'><b><font size=2>President</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Form N-CSRS Certification under Sarbanes Oxley Act</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>I, Michael G. Clark, certify that: </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>1.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>I have reviewed this report, filed on behalf of DWS Municipal Income Trust, on Form N-CSRS;</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>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> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
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        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>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> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>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> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and </font></p> </td> </tr></table>
</div>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>5.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
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        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="590" style='margin-left:5.4pt;border-collapse:collapse'>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>July 30, 2009</font></p> </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Michael G. Clark</font></u></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:3pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:3pt'><font size=2>Michael G. Clark</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:5pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:5pt'><font size=2>President</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid; height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:3pt; margin-top:12pt;text-align:right;'>
<img src="img2.gif"><br> </p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:3pt; margin-top:12pt;text-align:left;'><b><font size=2>Chief Financial Officer and Treasurer</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Form N-CSRS Certification under Sarbanes Oxley Act</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>I, Paul Schubert, certify that: </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
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        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>1.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>I have reviewed this report, filed on behalf of DWS Municipal Income Trust, on Form N-CSRS;</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>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> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>3.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>4.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>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> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>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> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


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<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
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        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(c)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and </font></p> </td> </tr></table>
</div>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>5.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(a)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and </font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(b)</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="564" style='margin-left:5.4pt;border-collapse:collapse'>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>July 30, 2009</font></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Paul Schubert</font></u></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:3pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:3pt'><font size=2>Paul Schubert </font></p>  </td> </tr>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:5pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:5pt'><font size=2>Chief Financial Officer and Treasurer</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid; height:16.5pt'>
        <td width="276" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="288" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



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<DOCUMENT>
<TYPE>EX-99.906CERT
<SEQUENCE>7
<FILENAME>ex99906certsemi.htm
<DESCRIPTION>906 CERTIFICATIONS
<TEXT>
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<p style=' margin-bottom:3pt; margin-top:12pt;text-align:right;'><img src="img1.gif"><br> </p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>President</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Section 906 Certification under Sarbanes Oxley Act</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>I, Michael G. Clark, certify that: </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>1.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>I have reviewed this report, filed on behalf of DWS Municipal Income Trust, on Form N-CSRS;</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Based on my knowledge and pursuant to 18 U.S.C. &sect; 1350, the periodic report on Form N-CSRS (the &#147;Report&#148;) fully complies with the requirements of &sect; 13 (a) or &sect;15 (d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="590" style='margin-left:5.4pt;border-collapse:collapse'>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>July 30, 2009</font></p> </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Michael G. Clark</font></u></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:3pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:3pt'><font size=2>Michael G. Clark </font></p>  </td> </tr>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:5pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:5pt'><font size=2>President</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid; height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'>
<img src="img2.gif"><br> </p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:3pt; margin-top:12pt;text-align:left;'><b><font size=2>Chief Financial Officer and Treasurer</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><b><font size=2>Section 906 Certification under Sarbanes Oxley Act</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>I, Paul Schubert, certify that: </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>1.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>I have reviewed this report, filed on behalf of DWS Municipal Income Trust, on Form N-CSRS;</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in; text-indent:-0.5in;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="48" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>2.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Based on my knowledge and pursuant to 18 U.S.C. &sect; 1350, the periodic report on Form N-CSRS (the &#147;Report&#148;) fully complies with the requirements of &sect; 13 (a) or &sect;&nbsp;15 (d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="590" style='margin-left:5.4pt;border-collapse:collapse'>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>July 30, 2009</font></p> </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>/s/Paul Schubert</font></u></p> </td> </tr>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:3pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:3pt'><font size=2>Paul Schubert </font></p>  </td> </tr>
    <tr style='page-break-inside:avoid;height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:5pt'><font size=1>&nbsp;</font></p>  </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:5pt'><font size=2>Chief Financial Officer and Treasurer</font></p>  </td> </tr>
    <tr style='page-break-inside:avoid; height:16.5pt'>
        <td width="289" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="301" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:16.5pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>DWS Municipal Income Trust</font></p> </td> </tr></table>
</div>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>



<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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