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<SEC-DOCUMENT>0000088053-10-001153.txt : 20100806
<SEC-HEADER>0000088053-10-001153.hdr.sgml : 20100806
<ACCEPTANCE-DATETIME>20100806140041
ACCESSION NUMBER:		0000088053-10-001153
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20100531
FILED AS OF DATE:		20100806
DATE AS OF CHANGE:		20100806
EFFECTIVENESS DATE:		20100806

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:		10997629

	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>sr053110mit.htm
<DESCRIPTION>DWS MUNICIPAL INCOME TRUST
<TEXT>
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        <title></title>
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            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">UNITED STATES</font></p>

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

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

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

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

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="289" border="0">
                    <tr>
                        <td valign="top" nowrap width="212">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Investment Company Act file number </font></p>
                        </td>

                        <td valign="top" nowrap width="77">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">811-05655</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><u><font size="2">DWS Municipal Income Trust</font></u></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(Exact Name of Registrant as Specified in Charter)</font></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">345 Park Avenue</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><u><font size="2">New York, NY 10154-0004</font></u></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(Address of Principal Executive Offices) (Zip Code)</font></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Registrant&rsquo;s Telephone Number, including Area Code: </font><u><font size="2">(212) 454-7190</font></u></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Paul Schubert</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">345 Park Avenue</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><u><font size="2">New York, NY 10154-0004</font></u></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(Name and Address of Agent for Service)</font></p>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="193" border="0">
                    <tr>
                        <td valign="top" nowrap width="144">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Date of fiscal year end:</font></p>
                        </td>

                        <td valign="top" nowrap width="49">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">11/30</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="217" border="0">
                    <tr>
                        <td valign="top" nowrap width="144">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Date of reporting period:</font></p>
                        </td>

                        <td valign="top" nowrap width="73">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">5/31/2010</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="590" border="0">
                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 1.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">REPORT TO STOCKHOLDERS</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>
                </table>
            </div>

            <table class="CLASS_1" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="center" bgcolor="#0091ff">
                        <p class="CLASS_2" align="left">&nbsp;</p>

                        <p class="CLASS_110" align="center"><font color="#ffffff">MAY 31, 2010</font></p>

                        <h1 class="CLASS_108" align="center"><font color="#ffffff">Semiannual Report<br>
                        to Shareholders</font></h1>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="left" bgcolor="#0091ff">
                        <p class="CLASS_2" align="left">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="center">
                        <p class="CLASS_2" align="left">&nbsp;</p>

                        <p class="CLASS_111" align="center"><b><font color="#0091ff" size="+1">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_2">
                    <td valign="bottom" align="left"><img alt="mit_cover190" src="mit_cover190.gif"></td>
                </tr>
            </table>

            <p class="CLASS_108" id="mit.html.2" align="left"><b><font color="#0091ff" size="+1">Contents</font></b></p>

            <table class="CLASS_1" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="left">
                        <p class="CLASS_109" align="left"><b><a href="#perfsum"><font color="#0091ff" size="-1">4</font></a></b> <font color="#000000">Performance Summary</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#portsum"><font color="#0091ff" size="-1">6</font></a></b> <font color="#000000">Portfolio Summary</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#portfolio"><font color="#0091ff" size="-1">8</font></a></b> <font color="#000000">Investment Portfolio</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#sal"><font color="#0091ff" size="-1">18</font></a></b> <font color="#000000">Statement of Assets and Liabilities</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#sop"><font color="#0091ff" size="-1">19</font></a></b> <font color="#000000">Statement of Operations</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#scf"><font color="#0091ff" size="-1">20</font></a></b> <font color="#000000">Statement of Cash Flows</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#soc"><font color="#0091ff" size="-1">21</font></a></b> <font color="#000000">Statement of Changes in Net Assets</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#high"><font color="#0091ff" size="-1">22</font></a></b> <font color="#000000">Financial Highlights</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#notes"><font color="#0091ff" size="-1">24</font></a></b> <font color="#000000">Notes to Financial Statements</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#other"><font color="#0091ff" size="-1">30</font></a></b> <font color="#000000">Other Information</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#smr"><font color="#0091ff" size="-1">31</font></a></b> <font color="#000000">Shareholder Meeting Results</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#drp"><font color="#0091ff" size="-1">32</font></a></b> <font color="#000000">Dividend Reinvestment Plan</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#addinfo"><font color="#0091ff" size="-1">34</font></a></b> <font color="#000000">Additional Information</font></p>

                        <p class="CLASS_109" align="left"><b><a href="#priv"><font color="#0091ff" size="-1">35</font></a></b> <font color="#000000">Privacy Statement</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_25" align="left"><font color="#000000" size="-2">Closed-end funds, unlike open-end funds, are not continuously offered. There is a one time 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_25" align="left"><font color="#000000" size="-2">Bond investments are subject to interest-rate and credit risks. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Leverage results in additional risks and can magnify the effect
            of any losses. Although the fund seeks income that is federally tax-free, a portion of the fund's distributions may be subject to federal, state and local taxes, including the alternative minimum tax.</font></p>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">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_25" align="left"><i><font color="#000000" size="-2">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 class="CLASS_108" id="mit.html.3" align="left"><b><font color="#0091ff" size="+1"><a id="perfsum" name="perfsum"></a>Performance Summary </font><font color="#0091ff" size="-1">May 31, 2010</font></b></p>

            <p class="CLASS_25" align="left"><b><font color="#000000" size="-2">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_25" align="left"><b><font color="#000000" size="-2">Fund specific data and performance are provided for informational purposes only and are not intended for trading purposes.</font></b></p>

            <p class="CLASS_25" align="left"><font color="#000000" size="-2">Returns and rankings based on net asset value during the 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 class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="bottom" align="left" colspan="6">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Average Annual Total Returns </font></b><font color="#000000" size="-2">as of 5/31/10</font></p>
                    </td>
                </tr>

                <tr class="CLASS_11">
                    <td class="CLASS_69" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">DWS Municipal Income Trust</font></b></p>
                    </td>

                    <td class="CLASS_99" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">6-Month<sup>&Dagger;</sup></font></b></p>
                    </td>

                    <td class="CLASS_99" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">1-Year</font></b></p>
                    </td>

                    <td class="CLASS_99" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">3-Year</font></b></p>
                    </td>

                    <td class="CLASS_99" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">5-Year</font></b></p>
                    </td>

                    <td class="CLASS_99" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">10-Year</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_68" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Based on Net Asset Value<sup>(a)</sup></font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">6.86%</font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">17.12%</font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">8.07%</font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">6.06%</font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">8.15%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_68" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Based on Market Price<sup>(a)</sup></font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">12.13%</font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">28.91%</font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">9.79%</font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">6.23%</font></b></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><b><font color="#000000" size="-2">8.00%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_68" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Barclays Capital Municipal Bond Index<sup>(b)</sup></font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">3.60%</font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">8.52%</font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">5.30%</font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">4.52%</font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">5.90%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_68" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Lipper General Closed-End Municipal Debt Funds (Leveraged) Category<sup>(c)</sup></font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">7.95%</font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">18.69%</font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">3.10%</font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">3.79%</font></p>
                    </td>

                    <td class="CLASS_87" valign="bottom" align="right">
                        <p class="CLASS_88" align="right"><font color="#000000" size="-2">6.64%</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Sources: Lipper Inc. and Deutsche Investment Management Americas Inc.</font></i></p>

            <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>&Dagger;</sup></font> <i><font color="#000000" size="-2">Total returns shown for periods less than one year are not annualized.</font></i></p>

            <p class="CLASS_72" align="left"><font color="#000000" size="-2"><sup>(a)</sup> </font><i><font color="#000000" size="-2">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></p>

            <p class="CLASS_72" align="left"><font color="#000000" size="-2"><sup>(b)</sup> </font><i><font color="#000000" size="-2">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></p>

            <p class="CLASS_72" align="left"><font color="#000000" size="-2"><sup>(c)</sup> </font><i><font color="#000000" size="-2">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></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="bottom" align="left" colspan="3">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Net Asset Value and Market Price</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_11">
                    <td class="CLASS_67" valign="bottom" align="left">
                        <p class="CLASS_6" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_98" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">As of 5/31/10</font></b></p>
                    </td>

                    <td class="CLASS_98" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">As of 11/30/09</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_107" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net Asset Value</font></p>
                    </td>

                    <td class="CLASS_79" valign="bottom" align="left">
                        <p class="CLASS_80" align="left"><font color="#000000" size="-2">$ 12.32</font></p>
                    </td>

                    <td class="CLASS_79" valign="bottom" align="left">
                        <p class="CLASS_80" align="left"><font color="#000000" size="-2">$ 11.94</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_107" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Market Price</font></p>
                    </td>

                    <td class="CLASS_79" valign="bottom" align="left">
                        <p class="CLASS_80" align="left"><font color="#000000" size="-2">$ 12.30</font></p>
                    </td>

                    <td class="CLASS_79" valign="bottom" align="left">
                        <p class="CLASS_80" align="left"><font color="#000000" size="-2">$ 11.36</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_6" id="mit.html.4" align="left"><i><font color="#000000" size="-2">Prices and net asset value fluctuate and are not guaranteed.</font></i></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Distribution Information</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_73" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Six Months as of 5/31/10:</font></p>

                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Income Dividends (common shareholders)</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="left">
                        <p class="CLASS_78" align="left"><font color="#000000" size="-2">$ .42</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_73" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">May Income Dividend (common shareholders)</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="left">
                        <p class="CLASS_78" align="left"><font color="#000000" size="-2">$ .07</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_106" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Current Annualized Distribution Rate (based on Net Asset Value) as&nbsp;of&nbsp;5/31/10<sup>+</sup></font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="right">
                        <p class="CLASS_86" align="right"><font color="#000000" size="-2">6.82%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_106" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Current Annualized Distribution Rate (based on Market Price) as&nbsp;of&nbsp;5/31/10<sup>+</sup></font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="right">
                        <p class="CLASS_86" align="right"><font color="#000000" size="-2">6.83%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_106" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Tax Equivalent Distribution Rate (based on Net Asset Value) as&nbsp;of&nbsp;5/31/10<sup>+</sup></font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="right">
                        <p class="CLASS_86" align="right"><font color="#000000" size="-2">10.49%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_106" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Tax Equivalent Distribution Rate (based on Market Price) as&nbsp;of&nbsp;5/31/10<sup>+</sup></font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="right">
                        <p class="CLASS_86" align="right"><font color="#000000" size="-2">10.51%</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>+</sup></font> <i><font color="#000000" size="-2">Current annualized distribution rate is the latest monthly dividend shown as an annualized percentage of net asset value/market price on May 31, 2010. 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 id="perfsumend" name="perfsumend"></a></font></i></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="bottom" align="left" colspan="5">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Lipper Rankings &mdash; General Closed-End Municipal Debt Funds (Leveraged) Category </font></b><font color="#000000" size="-2">as&nbsp;of&nbsp;5/31/10</font></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_66" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Period</font></b></p>
                    </td>

                    <td class="CLASS_96" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Rank</font></b></p>
                    </td>

                    <td class="CLASS_97" valign="bottom" align="center">
                        <p class="CLASS_6" align="center">&nbsp;</p>
                    </td>

                    <td class="CLASS_96" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Number of Funds Tracked</font></b></p>
                    </td>

                    <td class="CLASS_96" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Percentile Ranking (%)</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_105" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1-Year</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">39</font></p>
                    </td>

                    <td class="CLASS_53" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">of</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">62</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">62</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_105" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">3-Year</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">1</font></p>
                    </td>

                    <td class="CLASS_53" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">of</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">60</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">2</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_105" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5-Year</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">3</font></p>
                    </td>

                    <td class="CLASS_53" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">of</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">59</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">5</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_105" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">10-Year</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">5</font></p>
                    </td>

                    <td class="CLASS_53" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">of</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">42</font></p>
                    </td>

                    <td class="CLASS_52" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">12</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_25" align="left"><b><font color="#000000" size="-2">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 class="CLASS_108" id="mit.html.5" align="left"><b><font color="#0091ff" size="+1"><a id="portsum" name="portsum"></a>Portfolio Summary</font></b></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Asset Allocation </font></b><font color="#000000" size="-2">(As a %&nbsp;of&nbsp;Investment Portfolio)</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">5/31/10</font></b></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">11/30/09</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_45" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_51" valign="bottom" align="right">
                        <p class="CLASS_84" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_51" valign="bottom" align="right">
                        <p class="CLASS_84" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Revenue Bonds</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">65%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">67%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">ETM/Prerefunded Bonds</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">14%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">12%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">General Obligation Bonds</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">13%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">13%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Lease Obligations</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">8%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">8%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_46" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_85" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">100%</font></p>
                    </td>

                    <td class="CLASS_85" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">100%</font></p>
                    </td>
                </tr>
            </table>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Quality</font></b></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">5/31/10</font></b></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">11/30/09</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_45" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_51" valign="bottom" align="right">
                        <p class="CLASS_84" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_51" valign="bottom" align="right">
                        <p class="CLASS_84" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">AAA</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">23%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">23%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">AA</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">22%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">20%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">A</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">37%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">36%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">BBB</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">15%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">18%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Below B</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">&mdash;</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">1%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Not Rated</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">3%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">2%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_46" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_85" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">100%</font></p>
                    </td>

                    <td class="CLASS_85" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">100%</font></p>
                    </td>
                </tr>
            </table>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Top Five State Allocations </font></b><font color="#000000" size="-2">(As&nbsp;a&nbsp;%&nbsp;of&nbsp;Investment&nbsp;Portfolio)</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">5/31/10</font></b></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">11/30/09</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_45" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_51" valign="bottom" align="right">
                        <p class="CLASS_84" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_51" valign="bottom" align="right">
                        <p class="CLASS_84" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">15%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">15%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">13%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">12%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Florida</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">9%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">9%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Texas</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">8%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">8%</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Tennessee</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">6%</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="right">
                        <p class="CLASS_84" align="right"><font color="#000000" size="-2">7%</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">Asset allocation, quality and top five state allocations are subject to change. </font></i></p>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">The quality ratings represent the lower of Moody's Investors Service, Inc. ("Moody's") or Standard &amp; Poor's Corporation ("S&amp;P") 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>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Interest Rate Sensitivity</font></b></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">5/31/10</font></b></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">11/30/09</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_45" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_51" valign="bottom" align="center">
                        <p class="CLASS_6" align="center">&nbsp;</p>
                    </td>

                    <td class="CLASS_51" valign="bottom" align="center">
                        <p class="CLASS_6" align="center">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Effective Maturity</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">7.5 years</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">8.6 years</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_44" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Effective Duration</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">7.3 years</font></p>
                    </td>

                    <td class="CLASS_50" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">7.6 years</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_25" id="mit.html.6" align="left"><i><font color="#000000" size="-2">Effective maturity is the weighted average of the bonds held by the Fund taking into consideration any maturity shortening features. </font></i></p>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">Effective duration is the measurable change in the value of a security in response to a change in interest rates.</font></i></p>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">Interest rate sensitivity is subject to change. </font></i></p>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">For more complete details about the Fund's investment portfolio, see page <a href="#portfolio">8</a>. A quarterly Fact Sheet is&nbsp;available upon request. Please see the Additional Information section for contact information.</font></i></p>

            <p class="CLASS_36" 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. A complete list of the Fund's
            portfolio holdings as of the month-end is posted on www.dws-investments.com on or after the last day of the following month. More frequent posting of portfolio holdings information may be made from time to time on www.dws-investments.com. </font></p>

            <p class="CLASS_108" id="mit.html.7" align="left"><b><font color="#0091ff" size="+1"><a id="portfolio" name="portfolio"></a>Investment Portfolio </font><font color="#0091ff" size="-1">as&nbsp;May 31, 2010 (Unaudited)</font></b></p>

            <table class="CLASS_1" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">Principal Amount ($)</font></b></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">Value ($)</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_83" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#0091ff">Municipal Bonds and Notes 114.5%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Alabama 2.1%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Camden, AL, Industrial Development Board Revenue, Series&nbsp;B, AMT, Prerefunded, 6.375%, 12/1/2024 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,176,700</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Huntsville, AL, Water &amp; Sewer Revenue, AMT, 5.75%,&nbsp;10/1/2011 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,560,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,678,984</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">9,855,684</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Arizona 2.0%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Arizona, Hospital &amp; Healthcare Revenue, Health Facilities&nbsp;Authority, Catholic Healthcare West, Series&nbsp;A,&nbsp;6.625%, 7/1/2020 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">7,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">7,105,770</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Arizona, Salt Verde Financial Corp., Gas Revenue:</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">5.0%, 12/1/2037 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,050,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">948,528 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">5.5%, 12/1/2029 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,400,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,408,330 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">9,462,628</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">California 21.4%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, Bay Area Toll Authority, Toll Bridge Revenue, San&nbsp;Francisco Bay Area, Series F-1, 5.125%, 4/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,207,050</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, Health Facilities Financing Authority Revenue, Catholic Healthcare West, Series A, 6.0%, 7/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,776,885</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, M-S-R Energy Authority, Series A, 7.0%,&nbsp;11/1/2034 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,180,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,735,355</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, San Gorgonio Memorial Health Care, Election of 2006, Series C, 7.2%, 8/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,525,850</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, South Bayside Waste Management Authority, Solid Waste Enterprise Revenue, Shoreway Environmental Center, Series A, 6.25%, 9/1/2029 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,345,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,814,184</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">11,730,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">13,627,093</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, State General Obligation:</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">5.125%, 4/1/2024 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,400,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,529,844 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">5.5%, 3/1/2040 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,370,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,408,415 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">6.0%, 4/1/2038 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,915,800 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, State Public Works Board, Lease Revenue, Capital Projects, Series I-1, 6.375%, 11/1/2034 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,135,600</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, State Public Works Board, Lease Revenue, Department of Corrections, Series C, 5.5%, 6/1/2021 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,572,850</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, State Public Works Board, Lease Revenue, Department of General Services, Buildings 8 &amp; 9, Series A, 6.25%, 4/1/2034 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,640,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,998,693</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,698,240</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, Statewide Communities Development Authority Revenue, American Baptist Homes of the West, 6.25%,&nbsp;10/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,250,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,254,250</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Corona-Norco, CA, Unified School District, Election of 2006, Series A, 5.0%, 8/1/2031 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,130,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,260,148</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Kern, CA, High School District, Election of 2004, Series&nbsp;B, 5.0%, 8/1/2030 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">13,270,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">13,623,380</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Port Oakland, CA, Series A, AMT, 5.0%, 11/1/2027 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,850,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,594,004</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">102,677,641</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Colorado 2.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Colorado, E-470 Public Highway Authority Revenue, Series&nbsp;A-1, 5.5%, 9/1/2024 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,520,175</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Colorado, Health Facilities Authority Revenue, Covenant Retirement Communities, Inc., 5.0%, 12/1/2035 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,120,875</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Colorado, Health Facilities Authority Revenue, Portercare Adventist Health System, Prerefunded, 6.5%,&nbsp;11/15/2031 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,094,220</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Colorado, Single Family Housing Revenue, Series B2, AMT, 7.25%, 10/1/2031 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">115,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">118,196</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Denver, CO, Airport Revenue, Series A, AMT, 6.0%,&nbsp;11/15/2014 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,102,850</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">10,956,316</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Florida 8.4%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Miami-Dade County, FL, Aviation Revenue, Series A, 5.5%,&nbsp;10/1/2041 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,233,900</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Miami-Dade County, FL, Aviation Revenue, Miami International Airport:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, AMT, 5.25%, 10/1/2033 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,500,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,544,965 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A-1, 5.375%, 10/1/2035 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,053,340 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Miami-Dade County, FL, Educational Facilities Authority Revenue, University of Miami, Series A, 5.75%,&nbsp;4/1/2028 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,179,490</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Miami-Dade County, FL, Transportation/Tolls Revenue, Expressway Authority:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">6.0%, 7/1/2013 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,665,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,688,859 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">6.0%, 7/1/2014 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,014,330 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">North Brevard County, FL, Hospital District Revenue, Parrish Medical Center Project:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">5.5%, 10/1/2028 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,290,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,519,533 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">5.75%, 10/1/2038 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,242,450 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Orlando &amp; Orange County, FL, Expressway Authority Revenue, Series A, 5.0%, 7/1/2040 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,975,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,026,795</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">40,503,662</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Georgia 7.2%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Atlanta, GA, Water &amp; Wastewater Revenue, Series A, 6.25%,&nbsp;11/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,815,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,351,143</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Gainesville &amp; Hall County, GA, Hospital Authority Revenue, Anticipation Certificates, Northeast Georgia Healthcare, Series A, 5.5%, 2/15/2045 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,135,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,092,684</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Georgia, Main Street Natural Gas, Inc., Gas Project Revenue:</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, 5.0%, 3/15/2020 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">7,250,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">7,534,200 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, 5.5%, 9/15/2024 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,014,300 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, 5.5%, 9/15/2028 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">9,818,200 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Georgia, Medical Center Hospital Authority Revenue, Anticipation Certificates, Columbus Regional Healthcare Systems, 6.5%, 8/1/2038 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,300,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,673,032</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">34,483,559</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Hawaii 3.4%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Hawaii, Airport System Revenue, Series B, AMT, Prerefunded, 6.5%, 7/1/2013 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,800,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,929,800</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Hawaii, State Airports Systems Revenue, Series A, 5.0%,&nbsp;7/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,200,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,231,290</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Hawaii, State Department of Budget &amp; Finance, Special Purpose Revenue, Hawaiian Electric Co., Inc.:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series D, AMT, 6.15%, 1/1/2020 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,195,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,198,446 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">6.5%, 7/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,093,170 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">16,452,706</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Idaho 0.5%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Idaho, Health Facilities Authority Revenue, St. Luke's Regional Medical Center, 6.75%, 11/1/2037 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,135,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>2,366,007</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Illinois 6.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Chicago, IL, Airport Revenue, O'Hare International Airport, AMT, 5.5%, 1/1/2014 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,126,900</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Illinois, Finance Authority Revenue, Advocate Health Care&nbsp;Network:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series B, 5.375%, 4/1/2044 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,500,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,575,175 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series D, 6.5%, 11/1/2038 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,115,890 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Illinois, Finance Authority Revenue, Elmhurst Memorial Healthcare, Series A, 5.625%, 1/1/2037 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,817,210</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Illinois, Finance Authority Revenue, Memorial Health Systems, 5.5%, 4/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,200,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,223,016</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Illinois, Finance Authority Revenue, Northwest Community Hospital, Series A, 5.5%, 7/1/2038 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,750,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,993,512</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Illinois, Finance Authority Revenue, Roosevelt University Project, 6.5%, 4/1/2044 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,145,110</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">29,996,813</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Indiana 1.5%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Indiana, Finance Authority Hospital Revenue, Deaconess Hospital Obligation, Series A, 6.75%, 3/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,745,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,906,221</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Indiana, Hospital &amp; Healthcare Revenue, Health Facilities Authority, Prerefunded, 5.5%, 11/1/2031 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,390,000</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">7,296,221</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Kentucky 3.2%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Kentucky, Economic Development Finance Authority, Health System Revenue, Norton Healthcare:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, Prerefunded, 6.5%, 10/1/2020 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">790,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">813,913 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, 6.5%, 10/1/2020 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,210,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,229,699 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, Prerefunded, 6.625%, 10/1/2028 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,135,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,231,244 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, 6.625%, 10/1/2028 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">865,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">877,508 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,368,800</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Louisville &amp; Jefferson County, KY, Metropolitan Government Health System Revenue, Norton Healthcare, Inc., 5.0%,&nbsp;10/1/2030 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,930,600</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">15,451,764</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Louisiana 0.5%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Louisiana, St. John Baptist Parish Revenue, Marathon Oil Corp., Series A, 5.125%, 6/1/2037 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,315,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>2,218,071</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Maine 0.0%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Maine, Hospital &amp; Healthcare Revenue, Series D, 5.7%,&nbsp;7/1/2013 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">195,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>195,784</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Maryland 1.1%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Maryland, Hospital &amp; Healthcare Revenue, University of Maryland Medical System, Prerefunded, 6.75%,&nbsp;7/1/2030 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,539,575</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,100,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,249,523</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Maryland, State Health &amp; Higher Educational Facilities Authority Revenue, Washington County Hospital, 5.75%,&nbsp;1/1/2033 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,509,990</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">5,299,088</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Massachusetts 2.6%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Massachusetts, Airport Revenue, U.S. Airways, Inc. Project, Series A, AMT, 5.875%, 9/1/2023 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,101,600</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Massachusetts, Port Authority Revenue, Series B, AMT, 5.5%, 7/1/2015 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,006,210</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Massachusetts, State Health &amp; Educational Facilities Authority Revenue, Boston Medical Center Project, 5.25%,&nbsp;7/1/2038 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,885,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,673,088</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Massachusetts, State Health &amp; Educational Facilities Authority Revenue, Suffolk University, Series A, 5.75%,&nbsp;7/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,570,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,667,675</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">12,448,573</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Michigan 2.5%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,085,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,085,076</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Michigan, State Building Authority Revenue, Facilities&nbsp;Program:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series H, 5.125%, 10/15/2033 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,495,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,506,851 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series I, 6.0%, 10/15/2038 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,092,760 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Michigan, State Hospital Finance Authority Revenue, Henry Ford Health Hospital, 5.75%, 11/15/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,043,400</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Royal Oak, MI, Hospital Finance Authority Revenue, William Beaumont Hospital, 8.25%, 9/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,800,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,155,212</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">11,883,299</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Minnesota 0.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Minneapolis, MN, Health Care Systems Revenue, Fairview Health Services, Series A, 6.75%, 11/15/2032 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,140,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>1,279,627</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Mississippi 0.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Warren County, MS, Gulf Opportunity Zone, International Paper Co., Series A, 6.5%, 9/1/2032 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,525,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>1,597,147</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Missouri 0.1%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Missouri, Hospital &amp; Healthcare Revenue, Lake of the Ozarks General Hospital, 6.5%, 2/15/2021 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">365,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>365,274</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Nevada 2.1%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Henderson, NV, Health Care Facility Revenue, Catholic Healthcare West, Series B, 5.25%, 7/1/2031 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>10,046,500</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">New Jersey 5.7%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New Jersey, Economic Development Authority Revenue, Cigarette Tax, 5.75%, 6/15/2034 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,090,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,080,146</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New Jersey, Hospital &amp; Healthcare Revenue, General Hospital Center at Passaic, ETM, 6.75%, 7/1/2019 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,250,100</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New Jersey, Industrial Development Revenue, American&nbsp;Water Co., Inc. Project, Series A, AMT, 6.875%,&nbsp;11/1/2034&nbsp;(a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,775,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,783,620</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New Jersey, Industrial Development Revenue, Economic Development Authority, Harrogate, Inc., Series A, 5.875%,&nbsp;12/1/2026 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,400,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,315,832</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New Jersey, Resource Recovery Revenue, Tobacco Settlement Financing Corp., 5.75%, 6/1/2032 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,515,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,619,535</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New Jersey, State Transportation Trust Fund Authority, Transportation Systems, Series A, 6.0%, 12/15/2038 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,361,500</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New Jersey, State Turnpike Authority Revenue, Series&nbsp;E,&nbsp;5.25%, 1/1/2040 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,750,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,848,980</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New Jersey, Tobacco Settlement Financing Corp., Series&nbsp;1-A, 5.0%, 6/1/2041 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,700,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,152,396</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">27,412,109</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">New York 4.5%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,693,815</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York, State Dormitory Authority Revenues, State Supported Debt, City University of New York, Series&nbsp;C, 0.28%*, 7/1/2031, Bank of America NA (b) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,175,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,175,000</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York, State Energy Research &amp; Development Authority, Pollution Control Revenue, New York State Electric &amp; Gas Corp., Series C, 0.22%*, 6/1/2029, Wells Fargo Bank NA (b) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">400,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">400,000</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York, Tobacco Settlement Financing Corp., Series&nbsp;B-1C, 5.5%, 6/1/2019 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">15,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">16,935,610</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Niagara Falls, NY, School District General Obligation, 5.6%,&nbsp;6/15/2014 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,180,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,385,934</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">21,590,359</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">North Carolina 0.9%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">North Carolina, Electric Revenue, Municipal Power Agency, Series C, 5.375%, 1/1/2017 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,069,870</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">North Carolina, Medical Care Commission, Health Care Facilities Revenue, University Health Systems, Series&nbsp;D, 6.25%, 12/1/2033 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,338,580</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">4,408,450</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">North Dakota 0.7%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Grand Forks, ND, Hospital &amp; Healthcare Revenue, Altru Health Care System, Prerefunded, 7.125%, 8/15/2024 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,400,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>3,482,620</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Ohio 5.2%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Buckeye, OH, Tobacco Settlement Financing Authority, Series&nbsp;A-2, 5.875%, 6/1/2030 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">19,820,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">16,054,795</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Ohio, State Hospital Facility Revenue, Cleveland Clinic Health:</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, 5.5%, 1/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,247,400 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series B, 5.5%, 1/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,500,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,685,780 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">24,987,975</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Pennsylvania 0.9%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Allegheny County, PA, Hospital Development Authority Revenue, University of Pittsburgh Medical, 5.625%,&nbsp;8/15/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,700,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,749,708</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Pennsylvania, Hospital &amp; Healthcare Revenue, Economic Development Financing Authority, UPMC Health System, Series A, Prerefunded, 6.0%, 1/15/2031 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,570,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,687,321</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">4,437,029</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Puerto Rico 4.2%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Puerto Rico, Sales Tax Financing Corp., Sales Tax Revenue:</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, 5.375%, 8/1/2039 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,200,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,323,264 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, 6.5%, 8/1/2044 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">15,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">16,992,300 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">20,315,564</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Rhode Island 0.4%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>2,186,360</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">South Carolina 2.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Greenwood County, SC, Hospital &amp; Healthcare Revenue, South Carolina Memorial Hospital, 5.5%, 10/1/2031 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,510,275</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">South Carolina, Jobs Economic Development Authority, Hospital Facilities Revenue, Palmetto Health Alliance:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series C, Prerefunded, 7.0%, 8/1/2030 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,420,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,374,252 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series A, Prerefunded, 7.375%, 12/15/2021 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,115,800 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">South Carolina, Tobacco Settlement Revenue Management Authority, Series B, 6.0%, 5/15/2022 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">790,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">824,341</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">10,824,668</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Tennessee 3.4%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Clarksville, TN, Natural Gas Acquisition Corp., Gas Revenue, 5.0%, 12/15/2021 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,964,020</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Jackson, TN, Hospital Revenue, Jackson-Madison Project, 5.625%, 4/1/2038 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,054,040</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Memphis-Shelby County, TN, Airport Revenue, Series D, AMT, 6.25%, 3/1/2017 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">565,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">570,650</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">7,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">7,894,110 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,050,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,911,789</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">16,394,609</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Texas 11.0%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,133,620</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Harris County, TX, Houston Port Authority, Series A, AMT, 6.25%, 10/1/2029 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,302,400</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Houston, TX, Airport Revenue, People Mover Project, Series&nbsp;A, AMT, 5.5%, 7/15/2017 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,300,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,305,082</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">North Texas, Tollway Authority Revenue:</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">First Tier, Series A, 5.625%, 1/1/2033 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,500,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,688,545 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Second Tier, Series F, 5.75%, 1/1/2038 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,500,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,808,685 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Texas, Dallas/Fort Worth International Airport Revenue, Series&nbsp;A, AMT, 5.875%, 11/1/2016 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,783,660</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Texas, Industrial Development Revenue, Waste Disposal Authority, Series A, AMT, 6.1%, 8/1/2024 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,006,960</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Texas, Municipal Gas Acquisition &amp; Supply Corp. I, Gas&nbsp;Supply Revenue:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series B, 0.722%**, 12/15/2017 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,625,000 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series B, 0.872%**, 12/15/2026 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,500,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,134,375 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series D, 6.25%, 12/15/2026 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,347,500 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Texas, SA Energy Acquisition Public Facility Corp., Gas&nbsp;Supply&nbsp;Revenue:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">5.5%, 8/1/2021 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,155,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,192,203 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">5.5%, 8/1/2025 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">7,250,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">7,346,352 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">West Harris County, TX, Regional Water Authority, Water Systems Revenue, 5.0%, 12/15/2035 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,995,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,019,120</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">52,693,502</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Virginia 0.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,370,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>1,569,623</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Washington 1.7%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_43" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Seattle, WA, Special Assessment Revenue:</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series B, AMT, 5.5%, 9/1/2011 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,085,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,098,562 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Series B, AMT, 5.75%, 9/1/2013 (a) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,045,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,057,540 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Washington, State Health Care Facilities Authority Revenue,&nbsp;Virginia Mason Medical Center, Series A, 6.125%, 8/15/2037 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,109,440</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">8,265,542</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">West Virginia 3.4%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">West Virginia, Hospital Finance Authority Revenue, Charleston Medical Center:</font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="JUSTIFY" colspan="2">
                        <p class="CLASS_42" align="justify">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Prerefunded, 6.75%, 9/1/2022 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">12,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">12,317,400</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Prerefunded, 6.75%, 9/1/2030 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,000,000 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,105,800 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">16,423,200</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Wisconsin 2.1%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Badge, WI, Tobacco Asset Securitization Corp., 6.125%,&nbsp;6/1/2027 </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,310,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2,465,555</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">6,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,992,560</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">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_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,555,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">1,693,753</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">10,151,868</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_20" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2"><b>Total Municipal Bonds and Notes</b> (Cost $505,937,637)</font></p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="left">
                        <p class="CLASS_2" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">549,979,842</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_104" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#0091ff">Municipal Inverse Floating Rate Notes (c) 55.5%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">California 4.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, San Francisco Bay Area Toll Authority, Toll Bridge Revenue, Series F, 5.0%, 4/1/2031 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,371,152</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: California, San Francisco Bay Area Toll Authority, Toll Bridge Revenue, Series 1962-5, 144A, 13.354%, 4/1/2031, Leverage Factor at purchase date: 3 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">California, State General Obligation, 5.0%, 6/1/2023&nbsp;(a)&nbsp;(d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,501,200</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: California, State General Obligation, Series 1932, 144A, 9.03%, 6/1/2023, Leverage Factor at purchase date: 2&nbsp;to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">20,872,352</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Florida 7.1%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Miami-Dade County, FL, Transit Sales Surtax Revenue, 5.0%,&nbsp;7/1/2023 (a) (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,740,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,929,514</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Miami-Dade County, FL, Transit Sales Surtax Revenue, 5.0%,&nbsp;7/1/2024 (a) (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3,915,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,113,382</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Miami-Dade County, FL, Transit Sales Surtax Revenue, 5.0%,&nbsp;7/1/2025 (a) (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,122,500</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,331,396</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Miami-Dade County, FL, Transit Sales Surtax Revenue, 5.0%,&nbsp;7/1/2026 (a) (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,317,500</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">4,536,277</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Miami-Dade County, FL, Transit Sales Surtax Revenue, 5.0%,&nbsp;7/1/2032 (a) (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">16,470,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">17,304,572</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2"><i>Trust: Miami-Dade County, FL, Transit Improvements, Series 2008-1160, 144A, 9.321%,</i> <i>7/1/2023, Leverage Factor at purchase date: 2 to 1</i> </font></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">34,215,141</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Massachusetts 5.2%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Massachusetts, State Water Pollution Abatement Trust, Series 13, 5.0%, 8/1/2032 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">18,250,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">19,427,824</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Massachusetts, State Water Pollution Abatement Trust, Series 13, 5.0%, 8/1/2037 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,322,691</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: Massachusetts, State Pollution Control, Water Utility Improvements, Series 3159, 144A, 13.492%, 8/1/2032, Leverage Factor at purchase date: 3 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">24,750,515</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Nevada 6.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Clark County, NV, General Obligation, Limited Tax-Bond Bank, 5.0%, 6/1/2028 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">9,447,355</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">9,880,615</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Clark County, NV, General Obligation, Limited Tax-Bond Bank, 5.0%, 6/1/2029 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">9,919,723</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,374,646</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Clark County, NV, General Obligation, Limited Tax-Bond Bank, 5.0%, 6/1/2030 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">9,627,878</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,069,417</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: Clark County, NV, General Obligation, Series&nbsp;3158, 144A, 13.493%, 6/1/2028, Leverage Factor at purchase date: 3 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">30,324,678</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">New York 17.2%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York, State Dormitory Authority, State Personal Income Tax Revenue, Series A, 5.0%, 3/15/2026 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">13,500,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">14,783,917</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: New York, State Dormitory Authority Revenue, Series&nbsp;2008-1189, 144A, 9.15%, 3/15/2026, Leverage Factor at purchase date: 2 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York, State Dormitory Authority, State Personal Income Tax Revenue, Series A, 5.0%, 3/15/2026 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,843,655</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: New York, State Dormitory Authority Revenue, Series&nbsp;3160, 144A, 13.494%, 3/15/2026, Leverage Factor at purchase date: 3 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York, State Dormitory Authority, State Personal Income Tax Revenue, Series A, 5.0%, 3/15/2024 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,954,350</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: New York, State Dormitory Authority Revenue, Secondary Issues, Series 1955-3, 144A, 17.54%, 3/15/2024, Leverage Factor at purchase date: 4 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York, State Dormitory Authority Revenues, State Supported Debt, University Dormitory Facilities, 5.0%,&nbsp;7/1/2025 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,425,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">5,750,415</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York, State Dormitory Authority Revenues, State Supported Debt, University Dormitory Facilities, 5.0%,&nbsp;7/1/2027 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,080,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,564,674</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: New York, State Dormitory Authority Revenues, Series 3169, 144A, 13.491%, 7/1/2025, Leverage Factor at purchase date: 3 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York, Triborough Bridge &amp; Tunnel Authority Revenues, Series C, 5.0%, 11/15/2033 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">12,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">12,695,220</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: New York, Triborough Bridge &amp; Tunnel Authority Revenues, Series 2008-1188, 144A, 9.15%, 11/15/2033, Leverage Factor at purchase date: 2 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">New York City, NY, Transitional Finance Authority Revenue, Series C-1, 5.0%, 11/1/2027 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">17,560,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">19,065,419</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: New York City, NY, Series 2008-1190, 144A, 9.15%, 11/1/2027, Leverage Factor at purchase date: 2 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">82,657,650</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Pennsylvania 2.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Pennsylvania, State General Obligation, Second Series, 5.0%,&nbsp;1/1/2025 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>10,795,000</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: Pennsylvania, State General Obligation, Public Transit Improvements, Series 2008- 1146, 144A, 9.15%, 1/1/2025, Leverage Factor at purchase date: 2 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Tennessee 7.2%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Nashville &amp; Davidson County, TN, Metropolitan Government, 5.0%, 1/1/2027 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,756,695</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">11,730,582</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: Nashville &amp; Davidson County, TN, Metropolitan Government, Series 2631-3, 144A, 17.535%, 1/1/2027, Leverage Factor at purchase date: 4 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Nashville &amp; Davidson County, TN, Metropolitan Government, 5.0%, 1/1/2026 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,200,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">11,179,965</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: Nashville &amp; Davidson County, TN, Metropolitan Government, Series 2631-2, 144A, 17.54%, 1/1/2026, Leverage Factor at purchase date: 4 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Nashville &amp; Davidson County, TN, Metropolitan Government, 5.0%, 1/1/2028 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,564,925</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">11,462,367</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: Nashville &amp; Davidson County, TN, Metropolitan Government, Series 2631-4, 144A, 17.548%, 1/1/2028, Leverage Factor at purchase date: 4 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">34,372,914</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Texas 2.3%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Texas, State General Obligation, Transportation Commission Mobility Fund, 5.0%, 4/1/2025 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">10,000,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2"><b>11,067,400</b></font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: Texas, State General Obligation, Series&nbsp;2008-1147, 144A, 9.15%, 4/1/2025, Leverage Factor at purchase date: 2&nbsp;to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_7">
                    <td class="CLASS_32" valign="bottom" align="left" colspan="4">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-1">Virginia 3.6%</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Virginia, State Resource Authority, Clean Water Revenue, 5.0%, 10/1/2027 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,190,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">9,016,731</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_40" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Virginia, State Resource Authority, Clean Water Revenue, 5.0%, 10/1/2028 (d) </font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">7,630,000</font></p>
                    </td>

                    <td class="CLASS_21" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">8,400,202</font></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_39" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_17" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Trust: Virginia, State Resource Authority, Clean Water Revenue, Series 2917, 144A, 11.057%, 10/1/2027, Leverage Factor at purchase date: 2.5 to 1 </font></i></p>
                    </td>

                    <td class="CLASS_41" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_24" valign="bottom" align="right" colspan="3">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">17,416,933</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_19" valign="bottom" align="left" colspan="3">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2"><b>Total Municipal Inverse Floating Rate Notes</b> (Cost&nbsp;$253,930,930)</font></p>
                    </td>

                    <td class="CLASS_18" valign="bottom" align="left">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">266,472,583</font></b></p>
                    </td>
                </tr>
            </table>

            <table class="CLASS_1" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_38" valign="bottom" align="left">
                        <p class="CLASS_6" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_23" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">% of Net Assets</font></b></p>
                    </td>

                    <td class="CLASS_23" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">Value ($)</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_38" valign="bottom" align="left">
                        <p class="CLASS_37" align="left">&nbsp;</p>
                    </td>

                    <td class="CLASS_82" valign="bottom" align="right" colspan="2">
                        <p class="CLASS_6" align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_38" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2"><b>Total Investment Portfolio</b> (Cost&nbsp;$759,868,567)<sup>+</sup></font></p>
                    </td>

                    <td class="CLASS_23" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">170.0</font></p>
                    </td>

                    <td class="CLASS_23" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">816,452,425</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_38" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Other Assets and Liabilities, Net</font></b></p>
                    </td>

                    <td class="CLASS_23" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(28.6)</font></p>
                    </td>

                    <td class="CLASS_23" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">(137,442,412)</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_38" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Preferred Shares, at Redemption Value</font></b></p>
                    </td>

                    <td class="CLASS_23" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(41.4)</font></p>
                    </td>

                    <td class="CLASS_23" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">(198,750,000)</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_65" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net Assets Applicable to Common Shareholders</font></b></p>
                    </td>

                    <td class="CLASS_31" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">100.0</font></p>
                    </td>

                    <td class="CLASS_31" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">480,260,013</font></b></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_71" id="mit.html.16" align="left"><font color="#000000" size="-2">* </font><i><font color="#000000" size="-2">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, 2010.</font></i></p>

            <p class="CLASS_71" align="left"><font color="#000000" size="-2">** </font><i><font color="#000000" size="-2">These securities are shown at their current rate as of May 31, 2010. Floating rate securities' yields vary with a designated market index or market rate, such as the coupon-equivalent of the US Treasury bill rate.</font></i></p>

            <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>+</sup></font> <i><font color="#000000" size="-2">The cost for federal income tax purposes was $753,630,360. At May 31, 2010, net unrealized appreciation for all securities based on tax cost was $62,822,065. This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $64,731,575 and aggregate gross unrealized depreciation for all securities in
            which there was an excess of tax cost over value of $1,909,510.</font></i></p>

            <p class="CLASS_71" align="left"><font color="#000000" size="-2">(a) </font><i><font color="#000000" size="-2">Bond is insured by one of these companies:</font></i></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_64" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Insurance Coverage</font></b></p>
                    </td>

                    <td class="CLASS_22" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><b><font color="#000000" size="-2">As a % of Total Investment Portfolio</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_10">
                    <td class="CLASS_103" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Ambac Financial Group, Inc.</font></p>
                    </td>

                    <td class="CLASS_81" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3.5</font></p>
                    </td>
                </tr>

                <tr class="CLASS_10">
                    <td class="CLASS_103" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Assured Guaranty Corp.</font></p>
                    </td>

                    <td class="CLASS_81" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2.1</font></p>
                    </td>
                </tr>

                <tr class="CLASS_10">
                    <td class="CLASS_103" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Assured Guaranty Municipal Corp.</font></p>
                    </td>

                    <td class="CLASS_81" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">9.5</font></p>
                    </td>
                </tr>

                <tr class="CLASS_10">
                    <td class="CLASS_103" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Financial Guaranty Insurance Co.</font></p>
                    </td>

                    <td class="CLASS_81" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">3.6</font></p>
                    </td>
                </tr>

                <tr class="CLASS_10">
                    <td class="CLASS_103" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">National Public Finance Guarantee Corp.</font></p>
                    </td>

                    <td class="CLASS_81" valign="bottom" align="right">
                        <p class="CLASS_6" align="right"><font color="#000000" size="-2">2.8</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_7" align="left"><i><font color="#000000" size="-2">Many insurers who have traditionally guaranteed payment of municipal issues have been downgraded by the major rating agencies. </font></i></p>

            <p class="CLASS_71" id="mit.html.17" align="left"><font color="#000000" size="-2">(b) </font><i><font color="#000000" size="-2">Security incorporates a letter of credit from the bank listed.</font></i></p>

            <p class="CLASS_71" align="left"><font color="#000000" size="-2">(c) </font><i><font color="#000000" size="-2">Securities represent the underlying municipal obligations of inverse floating rate obligations held by the Fund.</font></i></p>

            <p class="CLASS_71" align="left"><font color="#000000" size="-2">(d) </font><i><font color="#000000" size="-2">Security forms part of the below tender option bond trust. Principal Amount and Value shown take into account the leverage factor.</font></i></p>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">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_25" align="left"><i><font color="#000000" size="-2">AMT: Subject to alternative minimum tax</font></i></p>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">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_25" align="left"><i><font color="#000000" size="-2">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_8" align="left"><b><font color="#000000" size="-1">Fair Value Measurements</font></b></p>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">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 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_25" align="left"><i><font color="#000000" size="-2">The following is a summary of the inputs used as of May 31, 2010 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 Financial Statements.</font></i></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_63" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Assets</font></b></p>
                    </td>

                    <td class="CLASS_95" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Level 1</font></b></p>
                    </td>

                    <td class="CLASS_95" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Level 2</font></b></p>
                    </td>

                    <td class="CLASS_95" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Level 3</font></b></p>
                    </td>

                    <td class="CLASS_95" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Total</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_62" valign="bottom" align="left" colspan="5">
                        <p class="CLASS_6" align="left">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_2">
                    <td class="CLASS_102" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Municipal Bonds and Notes (e)</font></p>
                    </td>

                    <td class="CLASS_77" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ &mdash;</font></p>
                    </td>

                    <td class="CLASS_77" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ 816,452,425</font></p>
                    </td>

                    <td class="CLASS_77" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ &mdash;</font></p>
                    </td>

                    <td class="CLASS_77" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ 816,452,425</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_61" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Total</font></b></p>
                    </td>

                    <td class="CLASS_30" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ &mdash;</font></b></p>
                    </td>

                    <td class="CLASS_30" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 816,452,425</font></b></p>
                    </td>

                    <td class="CLASS_30" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ &mdash;</font></b></p>
                    </td>

                    <td class="CLASS_30" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 816,452,425</font></b></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_71" align="left"><font color="#000000" size="-2">(e) </font><i><font color="#000000" size="-2">See Investment Portfolio for additional detailed categorizations.</font></i></p>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">The accompanying notes are an integral part of the financial statements.</font></i></p>

            <p class="CLASS_108" id="mit.html.18" align="left"><b><font color="#0091ff" size="+1"><a id="sal" name="sal"></a>Statement of Assets and Liabilities</font></b></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">as of May 31, 2010 (Unaudited)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Assets</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Investments in securities, at value (cost&nbsp;$759,868,567)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ 816,452,425</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Cash</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">51,866</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Receivable for investments sold</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">715,000</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Interest receivable</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">12,897,493</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Other assets</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5,761</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Total assets</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">830,122,545</font></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Liabilities</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_37" align="left"><font color="#000000" size="-2">Payable for floating rate notes issued</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">150,596,576</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Distributions payable</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">14,769 </font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Accrued management fee</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">305,667</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Other accrued expenses and payables</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">195,520</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Total liabilities</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">151,112,532</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Remarketed preferred shares, at redemption value</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">198,750,000</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net assets applicable to common shareholders</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 480,260,013</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net Assets Applicable to Common Shareholders Consist of</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Undistributed net investment income</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">12,995,148</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net unrealized appreciation (depreciation) on investments</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">56,583,858</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Accumulated net realized gain (loss)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(13,375,393)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Paid-in capital</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">424,056,400</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net assets applicable to common shareholders</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 480,260,013</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net Asset Value</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2"><b>Net Asset Value</b> per common share ($480,260,013&nbsp;&divide;&nbsp;38,990,166 outstanding shares of beneficial interest, $.01&nbsp;par&nbsp;value, unlimited shares authorized)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 12.32</font></b></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">The accompanying notes are an integral part of the financial statements.</font></i></p>

            <p class="CLASS_108" id="mit.html.19" align="left"><b><font color="#0091ff" size="+1"><a id="sop" name="sop"></a>Statement of Operations</font></b></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">for the six months ended May&nbsp;31, 2010 (Unaudited)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Investment Income</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Income:</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Interest</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ 21,623,320</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Expenses:</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Management fee</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1,844,564</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Services to shareholders</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">49,262</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Custodian fee</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">11,768</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Professional fees</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">52,192</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Trustees' fees and expenses</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">7,394</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Reports to shareholders</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">41,580</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Remarketing agent fee</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">247,702</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Stock exchange listing fees</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">17,596</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Interest expense and fees on floating rate notes</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">609,733</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Other</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">54,798</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Total expenses </font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">2,936,589</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net investment income</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">18,686,731</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Realized and Unrealized Gain (Loss) </font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net realized gain (loss) from investments</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(469,394)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Change in net unrealized appreciation (depreciation) on investments</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">13,127,394</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net gain (loss) </font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">12,658,000</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Dividends on remarketed preferred shares</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">(249,949)</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net increase (decrease) in net assets resulting from operations</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 31,094,782</font></b></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">The accompanying notes are an integral part of the financial statements.</font></i></p>

            <p class="CLASS_108" id="mit.html.20" align="left"><b><font color="#0091ff" size="+1"><a id="scf" name="scf"></a>Statement of Cash Flows</font></b></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">for the six months ended May&nbsp;31, 2010 (Unaudited)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Increase (Decrease) in Cash:</font></b></p>

                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Cash Flows from Operating Activities</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net increase (decrease) in net assets resulting from operations (excluding dividends on remarketed preferred shares)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ 31,344,731</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by operating&nbsp;activities:</font></p>

                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Purchases of long-term investments</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(89,172,749)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Net amortization/accretion of premium (discount)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(37,365)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Proceeds from sales and maturities of long-term investments</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">92,760,828</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">(Increase) decrease in interest receivable</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">60,197</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">(Increase) decrease in other assets</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(5,761)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">(Increase) decrease in receivable for investments sold</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(715,000)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Increase (decrease) in payable for investments purchased &mdash; when-issued securities</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(4,899,890)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Increase (decrease) in accrued expenses and payables</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(239,450)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Change in net unrealized (appreciation) depreciation on investments</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(13,127,394)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Net realized (gain) loss from investments</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">469,394</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Cash provided (used) by operating activities</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">16,437,541</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Cash Flows from Financing Activities</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Distributions paid (net of reinvestment of distributions)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(16,402,864)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Cash provided (used) for financing activities</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">(16,402,864)</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Increase (decrease) in cash</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">34,677</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Cash at beginning of period</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">17,189</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Cash at end of period </font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 51,866</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="2">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Supplemental Disclosure of Non-Cash Financing Activities:</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Interest expense and fees paid on floating rate notes</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ (609,733)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_33" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Reinvestment of distributions</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">207,454</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">The accompanying notes are an integral part of the financial statements.</font></i></p>

            <p class="CLASS_108" id="mit.html.21" align="left"><b><font color="#0091ff" size="+1"><a id="soc" name="soc"></a>Statement of Changes in Net Assets</font></b></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_8">
                    <td class="CLASS_60" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Increase (Decrease) in Net Assets</font></b></p>
                    </td>

                    <td class="CLASS_94" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Six Months Ended May 31, 2010 (Unaudited)</font></b></p>
                    </td>

                    <td class="CLASS_94" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Year Ended November 30, 2009</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Operations:</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net investment income </font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ 18,686,731</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">$ 39,391,748</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net realized gain (loss) </font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(469,394)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(1,926,994)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Change in net unrealized appreciation (depreciation) </font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">13,127,394</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">80,737,037</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Dividends on remarketed preferred shares</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(249,949)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(1,368,706)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net increase (decrease) in net assets resulting from operations</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">31,094,782</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">116,833,085</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Distributions to common shareholders from:</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net investment income</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(16,368,758)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(30,488,761)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Fund share transactions:</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net proceeds from shares issued to common shareholders in reinvestment of distributions</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">207,454</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">&mdash;</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net increase (decrease) in net assets from Fund share transactions</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">207,454</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">&mdash;</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Increase (decrease) in net assets</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">14,933,478</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">86,344,324</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net assets at beginning of period</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">465,326,535</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">378,982,211</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net assets at end of period (including undistributed net investment income of $12,995,148 and $10,927,124, respectively)</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 480,260,013</font></b></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 465,326,535</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="3">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Other Information</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Common shares outstanding at beginning of period</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">38,973,231</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">38,973,231</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Shares issued to common shareholders in reinvestment of distributions</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">16,935</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">&mdash;</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_59" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Common shares outstanding at end of period</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">38,990,166</font></p>
                    </td>

                    <td class="CLASS_29" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">38,973,231</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_25" align="left"><i><font color="#000000" size="-2">The accompanying notes are an integral part of the financial statements.</font></i></p>

            <p class="CLASS_108" id="mit.html.22" align="left"><b><font color="#0091ff" size="+1"><a id="high" name="high"></a>Financial Highlights</font></b></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_58" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Years Ended November 30,</font></b></p>
                    </td>

                    <td class="CLASS_92" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2010<sup>a</sup></font></b></p>
                    </td>

                    <td class="CLASS_92" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2009</font></b></p>
                    </td>

                    <td class="CLASS_93" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2008</font></b></p>
                    </td>

                    <td class="CLASS_92" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2007</font></b></p>
                    </td>

                    <td class="CLASS_91" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2006</font></b></p>
                    </td>

                    <td class="CLASS_91" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2005</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="7">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Selected Per Share Data</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_57" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net asset value, beginning of&nbsp;period</font></b></p>
                    </td>

                    <td class="CLASS_27" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 11.94</font></b></p>
                    </td>

                    <td class="CLASS_27" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 9.72</font></b></p>
                    </td>

                    <td class="CLASS_28" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 11.79</font></b></p>
                    </td>

                    <td class="CLASS_27" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 12.17</font></b></p>
                    </td>

                    <td class="CLASS_26" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 12.14</font></b></p>
                    </td>

                    <td class="CLASS_26" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 12.42</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Income (loss) from investment operations:</font></i></p>

                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Net investment income<sup>b</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.48</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.01</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.91</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.85</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.86</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.87</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Net realized and unrealized gain&nbsp;(loss) </font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.33</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">2.03</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(2.15)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.38)</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.03</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.17)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Dividends on remarketed preferred shares (common share equivalent):</font></i></p>

                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">From net investment income</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.01)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.04)</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.24)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.27)</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.24)</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.17)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_48" align="left"><b><font color="#000000" size="-2">Total from investment operations</font></b></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.80</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">3.00</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(1.48)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.20</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.65</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.53</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><i><font color="#000000" size="-2">Less distributions from:</font></i></p>

                        <p class="CLASS_48" align="left"><font color="#000000" size="-2">Net investment income</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.42)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.78)</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.59)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.58)</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.62)</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(.81)</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Reimbursement by Advisor</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">&mdash;</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">&mdash;</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">&mdash;</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.00<sup>***</sup></font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">&mdash;</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">&mdash;</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_57" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Net asset value, end of period</font></b></p>
                    </td>

                    <td class="CLASS_27" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 12.32</font></b></p>
                    </td>

                    <td class="CLASS_27" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 11.94</font></b></p>
                    </td>

                    <td class="CLASS_28" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 9.72</font></b></p>
                    </td>

                    <td class="CLASS_27" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 11.79</font></b></p>
                    </td>

                    <td class="CLASS_26" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 12.17</font></b></p>
                    </td>

                    <td class="CLASS_26" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 12.14</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_57" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Market value, end of period</font></b></p>
                    </td>

                    <td class="CLASS_27" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 12.30</font></b></p>
                    </td>

                    <td class="CLASS_27" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 11.36</font></b></p>
                    </td>

                    <td class="CLASS_28" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 8.26</font></b></p>
                    </td>

                    <td class="CLASS_27" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 10.43</font></b></p>
                    </td>

                    <td class="CLASS_26" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 10.98</font></b></p>
                    </td>

                    <td class="CLASS_26" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">$ 12.40</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="7">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Total Return</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Based on net asset value&nbsp;(%)<sup>d</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">6.86<sup>**</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">32.65</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(12.55)<sup>c</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">2.04<sup>c,e</sup></font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5.88<sup>c</sup></font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">4.45</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Based on market value&nbsp;(%)<sup>d</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">12.13<sup>**</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">48.52</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(16.00)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.06</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">(6.47)</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">10.15</font></p>
                    </td>
                </tr>

                <tr class="CLASS_8">
                    <td class="CLASS_56" valign="bottom" align="left" colspan="7">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Ratios to Average Net Assets and Supplemental Data</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Net assets, end of period ($&nbsp;millions)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">480</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">465</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">379</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">459</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">474</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">472</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Ratio of expenses before fee reductions&nbsp;(%) (based on net assets of&nbsp;common shares, including interest expense)<sup>f,g</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.24<sup>*</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.49</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">2.04</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.39</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.10</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.10</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Ratio of expenses after fee reductions&nbsp;(%) (based on net assets of&nbsp;common shares, including interest expense)<sup>f,h</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.24<sup>*</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.49</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">2.03</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.38</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.09</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.10</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_47" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Ratio of expenses after fee reductions&nbsp;(%) (based on net assets of&nbsp;common shares, excluding interest expense)<sup>i</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">.98<sup>*</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.14</font></p>
                    </td>

                    <td class="CLASS_76" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.15</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.10</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.09</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">1.10</font></p>
                    </td>
                </tr>
            </table>

            <table class="CLASS_1" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_55" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Years Ended November 30, </font></b><font color="#000000" size="-2">(continued)</font></p>
                    </td>

                    <td class="CLASS_92" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2010<sup>a</sup></font></b></p>
                    </td>

                    <td class="CLASS_92" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2009</font></b></p>
                    </td>

                    <td class="CLASS_91" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2008</font></b></p>
                    </td>

                    <td class="CLASS_91" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2007</font></b></p>
                    </td>

                    <td class="CLASS_91" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2006</font></b></p>
                    </td>

                    <td class="CLASS_91" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">2005</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_101" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Ratio of net investment income&nbsp;(%) (based on net assets of common shares)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">7.91<sup>*</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">9.17</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">8.08</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">7.19</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">7.13</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">7.00</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_101" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Ratio of net investment income&nbsp;(%) (based on net assets of common and remarketed preferred shares)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5.57<sup>*</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5.83</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5.04</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">4.57</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">4.55</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">4.52</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_101" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Portfolio turnover rate&nbsp;(%)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">11<sup>**</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">61</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">119</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">57</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">33</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">16</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_101" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Remarketed preferred shares information at end of&nbsp;period:</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Aggregate amount outstanding ($&nbsp;millions)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">199</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">199</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">265</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">265</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">265</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">265</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_101" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Asset coverage per share&nbsp;($)<sup>j</sup></font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">17,082</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">16,706</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">12,151</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">13,667</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">13,949</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">13,912</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_101" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Liquidation and market value per&nbsp;share&nbsp;($)</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5,000</font></p>
                    </td>

                    <td class="CLASS_75" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5,000</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5,000</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5,000</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5,000</font></p>
                    </td>

                    <td class="CLASS_74" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">5,000</font></p>
                    </td>
                </tr>

                <tr class="CLASS_9">
                    <td class="CLASS_70" valign="bottom" align="left" colspan="7">
                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>a</sup> </font><i><font color="#000000" size="-2">For the six months ended May 31, 2010 (Unaudited).</font></i></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>b</sup> </font><i><font color="#000000" size="-2">Based on average common shares outstanding during the period.</font></i></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>c</sup> </font><i><font color="#000000" size="-2">Total return would have been lower had certain fees not been reduced.</font></i></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>d</sup> </font><i><font color="#000000" size="-2">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></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>e</sup> </font><i><font color="#000000" size="-2">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></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>f</sup> </font><i><font color="#000000" size="-2">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></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>g</sup> </font><i><font color="#000000" size="-2">The ratio of expenses before fee reductions (based on net assets of common and remarketed preferred shares, including interest expense) were .88%*, .95%, 1.28%, .88%, .71% and .71% for the periods ended May 31, 2010, November 30, 2009, 2008, 2007, 2006 and 2005, respectively.</font></i></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>h</sup> </font><i><font color="#000000" size="-2">The ratio of expenses after fee reductions (based on net assets of common and remarketed preferred shares, including interest expense) were .88%*, .95%, 1.27%, .88%, .70% and .71% for the periods ended May 31, 2010, November 30, 2009, 2008, 2007, 2006 and 2005, respectively.</font></i></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>i</sup> </font><i><font color="#000000" size="-2">The ratio of expenses after fee reductions (based on net assets of common and remarketed preferred shares, excluding interest expense) were .69%*, .72%, .72%, .70%, .70% and .71% for the periods ended May 31, 2010, November 30, 2009, 2008, 2007, 2006, and 2005, respectively.</font></i></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2">j </font><i><font color="#000000" size="-2">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></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>*</sup> </font><i><font color="#000000" size="-2">Annualized</font></i></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>**</sup> </font><i><font color="#000000" size="-2">Not annualized</font></i></p>

                        <p class="CLASS_71" align="left"><font color="#000000" size="-2"><sup>***</sup> </font><i><font color="#000000" size="-2">Amount is less than $.005.</font></i></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_108" id="mit.html.24" align="left"><b><a id="notes" name="notes"></a><font color="#0091ff" size="+1">Notes to Financial Statements </font><font color="#0091ff" size="-1">(Unaudited)</font></b></p>

            <p class="CLASS_16" align="left"><b><font color="#0091ff">A. Organization and Significant Accounting Policies</font></b></p>

            <p class="CLASS_36" 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_36" 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_36" 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_36" 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_36" 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 or
            issuer'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_36" align="left"><font color="#000000">Disclosure about the classification of fair value measurements is included in a table following the Fund's Investment Portfolio.</font></p>

            <p class="CLASS_36" id="mit.html.25" 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_36" 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_36" 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
            "trust") 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 ("underlying bond"). 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 Investment Company Act of 1940. 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 class="CLASS_36" id="mit.html.26" align="left"><font color="#000000">The weighted average outstanding daily balance of the floating rate notes during the six months ended May 31, 2010 was approximately $150,597,000, with a weighted average interest rate of 0.81%.</font></p>

            <p class="CLASS_36" 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_36" align="left"><font color="#000000">At November 30, 2009, the Fund had a net tax basis capital loss carryforward of approximately $12,469,000, which may be applied against any realized net taxable capital gains of each succeeding year until fully utilized or until November 30, 2011 ($1,323,000), November 30, 2014 ($912,000), November&nbsp;30, 2016 ($7,370,000) and November 30, 2017 ($2,864,000), the respective expiration dates, whichever occurs first.</font></p>

            <p class="CLASS_36" align="left"><font color="#000000">In addition, from November 1, 2009 through November 30, 2009, the Fund incurred approximately $1,085,000 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, 2010.</font></p>

            <p class="CLASS_36" align="left"><font color="#000000">The Fund has reviewed the tax positions for the open tax years as of November 30, 2009 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 open subject to examination by the Internal Revenue Service.</font></p>

            <p class="CLASS_36" 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_36" 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 class="CLASS_36" 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_36" align="left"><font color="#000000"><b><font size="-1">Remarketed Preferred Shares.</font></b> The Fund has issued and outstanding 8,100 Series&nbsp;A, 8,025 Series B, 8,100 Series C, 8,025 Series D and 7,500 Series&nbsp;E remarketed preferred shares ("Remarketed Preferred Shares"), 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. 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.</font></p>

            <p class="CLASS_36" id="mit.html.27" align="left"><font color="#000000">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 "maximum rate," which, based on current Remarketed Preferred Share ratings (AAA as of May&nbsp;31, 2010), 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 class="CLASS_36" align="left"><font color="#000000">During the six months ended May 31, 2010, the dividend rates ranged from 0.150% to 0.438% for Series A, 0.150% to 0.438% for Series B, 0.150% to 0.438% for Series C, 0.150% to 0.438% for Series D and 0.150% to 0.425% 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_36" id="mit.html.28" 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 "maximum rate." As of May&nbsp;31, 2010, 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_36" 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 held at the Fund's custodian bank at May&nbsp;31, 2010.</font></p>

            <p class="CLASS_36" align="left"><b><font color="#000000" size="-1">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_36" 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 class="CLASS_16" align="left"><b><font color="#0091ff">B. Purchases and Sales of Securities</font></b></p>

            <p class="CLASS_36" align="left"><font color="#000000">During the six months ended May 31, 2010, purchases and sales of investment securities (excluding short-term investments) aggregated $89,172,749 and $92,760,828, respectively.</font></p>

            <p class="CLASS_16" align="left"><b><font color="#0091ff">C. Related Parties</font></b></p>

            <p class="CLASS_36" align="left"><font color="#000000"><b><font size="-1">Management Agreement.</font></b> Under the Investment Management Agreement with Deutsche Investment Management Americas Inc. ("DIMA" or the "Advisor"), 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_36" id="mit.html.29" align="left"><font color="#000000"><b><font size="-1">Service Provider Fees.</font></b> DWS Investments Service Company ("DISC"), 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. ("DST"), 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, 2010, the amount charged&nbsp;to the Fund by DISC aggregated $33,365, of which is $12,731 is unpaid.</font></p>

            <p class="CLASS_36" 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, 2010, the amount charged to the Fund by DIMA included in the Statement of Operations under "reports to shareholders" aggregated $6,489, all of which is unpaid.</font></p>

            <p class="CLASS_36" 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_36" 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 six months ended May 31, 2010, the amount charged to the Fund by Deutsche Bank Trust Company Americas included in the Statement of Operations under "other" aggregated $9,963, all of which was paid.</font></p>

            <p class="CLASS_16" align="left"><b><font color="#0091ff">D. Line of Credit </font></b></p>

            <p class="CLASS_36" align="left"><font color="#000000">Prior to April 1, 2010, the Fund and other affiliated funds (the "Participants") shared in a $450&nbsp;million revolving credit facility provided by a syndication of banks. The Fund could borrow for temporary or emergency purposes. The Participants were charged an annual commitment fee which was allocated based on net assets, among each of the Participants. Interest was 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 could borrow up to a maximum of 33 percent of its net assets under the agreement. Effective April 1, 2010, the Fund has elected not to participate in the revolving credit facility.</font></p>

            <p class="CLASS_16" align="left"><b><font color="#0091ff">E. Review for Subsequent Events</font></b></p>

            <p class="CLASS_36" align="left"><font color="#000000">Management has evaluated the events and transactions subsequent to period end through the date the financial statements were available to be issued, and has determined that there were no material events that would require disclosure in the Fund's financial statements.</font></p>

            <p class="CLASS_108" id="mit.html.30" align="left"><b><a id="other" name="other"></a><font color="#0091ff" size="+1">Other Information</font></b></p>

            <p class="CLASS_9" align="left"><b><font color="#000000" size="-1">Notice of Possible Share Repurchases</font></b></p>

            <p class="CLASS_9" align="left"><font color="#000000">In accordance with Section 23(c) of the Investment Company Act of 1940, the Fund 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 class="CLASS_108" id="mit.html.31" align="left"><b><font color="#0091ff" size="+1"><a id="smr" name="smr"></a>Shareholder Meeting Results </font><font color="#0091ff" size="-1">(Unaudited)</font></b></p>

            <p class="CLASS_9" align="left"><font color="#000000">The Annual Meeting of Shareholders (the "Meeting") of DWS Municipal Income Trust (the "Fund") was held on May 24, 2010 at the New York Marriott East Side, 525 Lexington Avenue, New York, New York 10017. At the Meeting, the following matters were voted upon by the shareholders (the resulting votes are presented below).</font></p>

            <p class="CLASS_15" align="left"><font color="#000000">1. Election of four Class II Board Members of the Fund (three-year&nbsp;term):</font></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="bottom" align="center" colspan="3">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Number of Votes:</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_89" valign="bottom" align="center">
                        <p class="CLASS_6" align="center">&nbsp;</p>
                    </td>

                    <td class="CLASS_89" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">For</font></b></p>
                    </td>

                    <td class="CLASS_89" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Withheld</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_6">
                    <td class="CLASS_49" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Henry P. Becton, Jr.</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">34,397,739</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">1,012,025</font></p>
                    </td>
                </tr>

                <tr class="CLASS_6">
                    <td class="CLASS_49" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Paul K. Freeman</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">34,448,263</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">961,500</font></p>
                    </td>
                </tr>

                <tr class="CLASS_6">
                    <td class="CLASS_49" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">William McClayton</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">34,418,352</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">991,411</font></p>
                    </td>
                </tr>

                <tr class="CLASS_6">
                    <td class="CLASS_49" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Jean Gleason Stromberg</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">34,348,165</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">1,061,598</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_14" align="left"><font color="#000000">Election of two Preferred Class Board Members of the Fund (elected&nbsp;annually):</font></p>

            <table class="CLASS_5" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="bottom" align="center" colspan="3">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Number of Votes:</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_89" valign="bottom" align="center">
                        <p class="CLASS_6" align="center">&nbsp;</p>
                    </td>

                    <td class="CLASS_89" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">For</font></b></p>
                    </td>

                    <td class="CLASS_89" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><b><font color="#000000" size="-2">Withheld</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_6">
                    <td class="CLASS_49" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Ingo Gefeke</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">39,445</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">15</font></p>
                    </td>
                </tr>

                <tr class="CLASS_6">
                    <td class="CLASS_49" valign="bottom" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Robert H. Wadsworth</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">39,445</font></p>
                    </td>

                    <td class="CLASS_49" valign="bottom" align="center">
                        <p class="CLASS_6" align="center"><font color="#000000" size="-2">15</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_9" align="left"></p>

            <p class="CLASS_108" id="mit.html.32" align="left"><b><font color="#0091ff" size="+1"><a id="drp" name="drp"></a>Dividend Reinvestment Plan</font></b></p>

            <p class="CLASS_36" align="left"><font color="#000000">A summary of the Fund's Dividend Reinvestment Plan (the "Plan") 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 ("DISC") at:</font></p>

            <p class="CLASS_36" align="left"><font color="#000000">P.O. Box 219066<br>
            Kansas City, Missouri 64121-9066<br>
            (800) 294-4366</font></p>

            <p class="CLASS_36" 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 "Transfer Agent") will establish
            a&nbsp;Dividend Investment Account (the "Account") 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, "Distributions") paid on shares of the Fund (the "Shares"). 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_36" align="left"><font color="#000000">If, on the record date for a Distribution (the "Record Date"), 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 "Purchase"). 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 ("Payment Date" 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_36" 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 class="CLASS_36" id="mit.html.33" 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_36" 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_36" 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_36" 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 class="CLASS_108" id="mit.html.34" align="left"><b><font color="#0091ff" size="+1"><a id="addinfo" name="addinfo"></a>Additional Information</font></b></p>

            <table class="CLASS_1" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_90" valign="top" align="left" colspan="2">
                        <p class="CLASS_6" align="left">&nbsp;</p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">Automated Information Line</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">DWS Investments Closed-End Fund Info Line</font></b></p>

                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">(800) 349-4281</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">Web Site</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">www.dws-investments.com </font></b></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Obtain quarterly fact sheets, financial reports, press releases and webcasts when available.</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">Written Correspondence</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Deutsche Investment Management Americas Inc.</font></b></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">345 Park Avenue</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">New York, NY 10154</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">Proxy Voting</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">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 June&nbsp;30</font> <font color="#000000" size="-2">are available on our Web site &mdash; www.dws-investments.com (click on "proxy voting"at the bottom of the&nbsp;page) &mdash; or on the SEC's Web site
                        &mdash; 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></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">Legal Counsel</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Vedder Price P.C.</font></b></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">222 North LaSalle Street</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Chicago, IL 60601</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">Dividend Reinvestment Plan&nbsp;Agent</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Computershare Inc.</font></b></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">P.O. Box 43078</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Providence, RI 02940-3078</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">Shareholder Service Agent and Transfer Agent</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">DWS Investments Service Company</font></b></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">P.O. Box 219066</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Kansas City, MO 64121-9066</font></p>

                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">(800) 294-4366</font></b></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">Custodian</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">State Street Bank and Trust Company</font></b></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">225 Franklin Street</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Boston, MA 02110</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">Independent Registered Public Accounting Firm</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><b><font color="#000000" size="-2">Ernst &amp; Young LLP</font></b></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">200 Clarendon Street</font></p>

                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Boston, MA 02116</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">NYSE Symbol</font></b></p>
                    </td>

                    <td class="CLASS_54" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">KTF</font></p>
                    </td>
                </tr>
            </table>

            <table class="CLASS_3" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right"><b><font color="#0091ff" size="-2">CUSIP Numbers</font></b></p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Common Shares</font></p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">23338M 106</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Series A (Preferred Shares)</font></p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">23338M 205</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Series B (Preferred Shares)</font></p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">23338M 304</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Series C (Preferred Shares)</font></p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">23338M 403</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Series D (Preferred Shares)</font></p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">23338M 502</font></p>
                    </td>
                </tr>

                <tr class="CLASS_4">
                    <td class="CLASS_12" valign="top" align="right">
                        <p class="CLASS_13" align="right">&nbsp;</p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">Series E (Preferred Shares)</font></p>
                    </td>

                    <td class="CLASS_100" valign="top" align="left">
                        <p class="CLASS_6" align="left"><font color="#000000" size="-2">23338M 601</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_108" id="mit.html.35" align="left"><b><font color="#0091ff" size="+1"><a id="priv" name="priv"></a>Privacy Statement</font></b></p>

            <p class="CLASS_4" align="left"><font color="#000000">Dear Valued Client:</font></p>

            <p class="CLASS_4" align="left"><font color="#000000">Your confidence is important to us. So we want to make sure you know our policies regarding the handling of our clients' private information. The&nbsp;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_4" 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&nbsp;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_4" 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 account. </font></p>

            <p class="CLASS_4" 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. 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_4" 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&nbsp;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_4" align="left"><font color="#000000">At any time, if you have questions about our policy, please write to us at: </font></p>

            <table class="CLASS_1" cellspacing="0" cellpadding="0" border="1">
                <tr class="CLASS_2">
                    <td class="CLASS_35" valign="top" align="left" colspan="2">
                        <p class="CLASS_4" align="left"><font color="#000000">DWS Investments <br>
                        Attention: Correspondence &mdash; Chicago<br>
                        P.O. Box 219415<br>
                        Kansas City, MO 64121-9415</font></p>
                    </td>

                    <td class="CLASS_34" valign="bottom" align="right">
                        <p class="CLASS_2" align="right"><font color="#000000">Rev. 09/2009</font></p>
                    </td>
                </tr>
            </table>

            <p class="CLASS_9" id="mit.html.36" align="left"><b><font color="#0091ff" size="+1">Notes</font></b></p>

            <p class="CLASS_9" id="mit.html.37" align="left"><b><font color="#0091ff" size="+1">Notes</font></b></p>

            <p class="CLASS_25" align="left"><img alt="mit_backcover0" src="mit_backcover0.gif"></p>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="590" border="0">
                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 2.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">CODE OF ETHICS</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Not applicable.</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 3.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">AUDIT COMMITTEE FINANCIAL EXPERT</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Not applicable.</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 4.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">PRINCIPAL ACCOUNTANT FEES AND SERVICES</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Not applicable.</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 5.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">AUDIT COMMITTEE OF LISTED REGISTRANTS</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Not Applicable</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 6.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">SCHEDULE OF INVESTMENTS</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Not Applicable</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 7.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Not applicable.</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 8.</font></b></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><b><font size="2">Portfolio Manager Team Disclosure</font></b></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">The Fund is managed by a Team of investment professionals who collaborate to develop and implement the Fund&rsquo;s investment strategy. Each Portfolio Manager on the Team has authority over all aspects of the Fund's investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio construction techniques, portfolio risk assessment, and the management of daily
            cash flows in accordance with portfolio holdings.</font></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">The following individuals handle the day-to-day management of the Fund.</font></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Philip G. Condon, Managing Director of Deutsche Asset Management and Lead Portfolio Manager of the Fund.</font></p>

            <div align="left">
                <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Joined Deutsche Asset Management in 1983 and the Fund team in 1998.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Over 33 years of investment industry experience.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">BA and MBA, University of Massachusetts at Amherst.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Michael J. Generazo, Director of Deutsche Asset Management and Portfolio Manager of the Fund.</font></p>

            <div align="left">
                <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Joined Deutsche Asset Management in 1999 and the Fund in 2010.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Over 17 years of investment industry experience.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">BS, Bryant College; MBA, Suffolk University.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: left"><b><font size="2">Compensation of Portfolio Managers </font></b></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Portfolio managers are paid on a Total Compensation basis, which includes: (i) fixed pay (base salary), which is linked to job function, responsibilities and internal and external peer comparison, and (ii) variable pay , which is linked to investment performance, individual contributions to the team, and the overall financial results of both Deutsche Asset Management and Deutsche Bank AG. </font></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Variable pay can be delivered via a short-term and/or long-term vehicle, namely cash, restricted equity awards, and/or restricted incentive awards. Variable pay comprises a greater proportion of total compensation as the portfolio manager&rsquo;s seniority and total compensation level increase. The proportion of variable pay delivered via a long-term incentive award, which is subject to clawback, will
            increase significantly as the amount of variable pay increases. All variable pay delivered via a long-term incentive award is subject to clawback.</font></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">To evaluate its investment professionals, Deutsche Asset Management reviews investment performance for all accounts managed in relation to both account peer group and benchmark related data (i.e., appropriate Morningstar and Lipper peer group universes and/or benchmark index(es) with respect to each account). The ultimate goal of this process is to evaluate the degree to which investment professionals
            deliver investment performance that meets or exceeds their clients&rsquo; risk and return objectives. When determining Total Compensation, Deutsche Asset Management considers a number of quantitative and qualitative factors:</font></p>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Quantitative measures (e.g. one-, three- and five-year pre-tax returns versus the benchmark and appropriate peer group, taking risk targets into account) are utilized to measure performance.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Qualitative measures (e.g. adherence to, as well as contributions to, the enhancement of the investment process) are included in the performance review. </font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Other factors (e.g. teamwork, adherence to compliance rules, risk management and "living the values" of Deutsche Asset Management) are included as part of a discretionary component of the review process, giving management the ability to consider additional markers of performance on a subjective basis. </font></p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: left"><b><font size="2">Fund Ownership of Portfolio Managers</font></b></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">The following table shows the dollar range of shares owned beneficially and of record by each member of the Fund&rsquo;s portfolio management team in the Fund as well as in all DWS Funds as a group (i.e. those funds advised by Deutsche Asset Management or its affiliates), including investments by their immediate family members sharing the same household and amounts invested through retirement and
            deferred compensation plans. This information is provided as of the Fund&rsquo;s semiannual period ended May 31, 2010.</font></p>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="658" border="0">
                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 3pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="bottom" width="232">
                            <p style="LINE-HEIGHT: normal; TEXT-ALIGN: center" align="center"><b><font size="2">Name of</font></b><br>
                            <b><font size="2">Portfolio Manager</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 3pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="bottom" width="216">
                            <p style="LINE-HEIGHT: normal; TEXT-ALIGN: center" align="center"><b><font size="2">Dollar Range of</font></b></p>

                            <p style="LINE-HEIGHT: normal; TEXT-ALIGN: center" align="center"><b><font size="2">Fund Shares Owned</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 3pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="210">
                            <p style="LINE-HEIGHT: normal; TEXT-ALIGN: center" align="center"><b><font size="2">Dollar Range of All DWS Fund Shares Owned</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: medium none; PADDING-LEFT: 3pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="232">
                            <p style="LINE-HEIGHT: normal"><font size="2">Philip G. Condon</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: medium none; PADDING-LEFT: 3pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="216">
                            <p style="MARGIN-TOP: 0in"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: medium none; PADDING-LEFT: 3pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="210">
                            <p style="MARGIN-TOP: 0in"><font size="2">Over $1,000,000</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: medium none; PADDING-LEFT: 3pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="232">
                            <p style="LINE-HEIGHT: normal"><font size="2">Michael J. Generazo</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: medium none; PADDING-LEFT: 3pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="216">
                            <p style="MARGIN-TOP: 0in"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: medium none; PADDING-LEFT: 3pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="210">
                            <p style="MARGIN-TOP: 0in"><font size="2">$100,001 - $500,000</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: left"><b><font size="2">Conflicts of Interest</font></b></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">In addition to managing the assets of the Fund, the Fund&rsquo;s portfolio managers may have responsibility for managing other client accounts of the Advisor or its affiliates. The tables below show, for each portfolio manager, the number and asset size of (1) SEC registered investment companies (or series thereof) other than the Fund, (2) pooled investment vehicles that are not registered investment
            companies and (3) other accounts (e.g., accounts managed for individuals or organizations) managed by each portfolio manager. Total assets attributed to each portfolio manager in the tables below include total assets of each account managed by them, although the manager may only manage a portion of such account&rsquo;s assets. The tables also show the number of performance based fee accounts, as well as the total assets of the accounts for which the advisory fee is based on the
            performance of the account. This information is provided as of the Fund&rsquo;s semiannual period ended<br>
            May 31, 2010.</font></p>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><b><font size="2">Other SEC Registered Investment Companies Managed:</font></b></p>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="589" border="0">
                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="151">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Name of Portfolio Manager</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Number of Registered Investment Companies </font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="120">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Total Assets of Registered Investment Companies</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="108">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Number of Investment Company Accounts with Performance Based Fee</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="114">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Total Assets of Performance- Based Fee Accounts</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="151">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Philip G. Condon</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">8</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="120">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$9,492,182,464</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="108">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="114">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$0</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="151">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Michael J. Generazo</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">2</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="120">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$4,976,327,026</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="108">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="114">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$0</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><b><font size="2">Other Pooled Investment Vehicles Managed:</font></b></p>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="590" border="0">
                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="151">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Name of Portfolio Manager</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Number of Pooled Investment Vehicles</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="118">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Total Assets of Pooled Investment Vehicles</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="113">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 2.25pt; TEXT-ALIGN: left"><b><font size="2">Number of Pooled Investment Vehicle Accounts with Performance-Based Fee </font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Total Assets of Performance- Based Fee Accounts</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="151">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Philip G. Condon</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="118">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="113">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$0</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="151">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Michael J. Generazo</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="118">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="113">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$0</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><b><font size="2">Other Accounts Managed:</font></b></p>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="590" border="0">
                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="151">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Name of Portfolio Manager</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="83">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Number of Other Accounts</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="131">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Total Assets of Other Accounts</font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="113">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Number of Other Accounts with Performance- Based Fee </font></b></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">Total Assets of Performance- Based Fee Accounts</font></b></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="151">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Philip G. Condon</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="83">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="131">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="113">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$0</font></p>
                        </td>
                    </tr>

                    <tr>
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="151">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Michael J. Generazo</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="83">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">35</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="131">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$3,765,135,854</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="113">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">-</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="112">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">$0</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">In addition to the accounts above, an investment professional may manage accounts in a personal capacity that may include holdings that are similar to, or the same as, those of the Funds. The Advisor has in place a Code of Ethics that is designed to address conflicts of interest and that, among other things, imposes restrictions on the ability of portfolio managers and other &ldquo;access persons&rdquo;
            to invest in securities that may be recommended or traded in the Funds and other client accounts.</font></p>

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

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Real, potential or apparent conflicts of interest may arise when a portfolio manager has day-to-day portfolio management responsibilities with respect to more than one fund or account, including the following: </font></p>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Certain investments may be appropriate for the Fund and also for other clients advised by the Advisor, including other client accounts managed by the Fund&rsquo;s portfolio management team. Investment decisions for the Fund and other clients are made with a view to achieving their respective investment objectives and after consideration of such factors
                            as their current holdings, availability of cash for investment and the size of their investments generally. A particular security may be bought or sold for only one client or in different amounts and at different times for more than one but less than all clients. Likewise, because clients of the Advisor may have differing investment strategies, a particular security may be bought for one or more clients when one or more other clients are selling the security. The
                            investment results achieved for the Fund may differ from the results achieved for other clients of the Advisor. In addition, purchases or sales of the same security may be made for two or more clients on the same day. In such event, such transactions will be allocated among the clients in a manner believed by the Advisor to be most equitable to each client, generally utilizing a pro rata allocation methodology. In some cases, the allocation procedure could
                            potentially have an adverse effect or positive effect on the price or amount of the securities purchased or sold by the Fund. Purchase and sale orders for the Fund may be combined with those of other clients of the Advisor in the interest of achieving the most favorable net results to the Fund and the other clients. </font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">To the extent that a portfolio manager has responsibilities for managing multiple client accounts, a portfolio manager will need to divide time and attention among relevant accounts. The Advisor attempts to minimize these conflicts by aligning its portfolio management teams by investment strategy and by employing similar investment models across
                            multiple client accounts.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">In some cases, an apparent conflict may arise where the Advisor has an incentive, such as a performance-based fee, in managing one account and not with respect to other accounts it manages. The Advisor will not determine allocations based on whether it receives a performance-based fee from the client. Additionally, the Advisor has in place supervisory
                            oversight processes to periodically monitor performance deviations for accounts with like strategies. </font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="4"><b>&bull;</b></font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">The Advisor and its affiliates and the investment team of each Fund may manage other mutual funds and separate accounts on a long only or a long-short basis. The simultaneous management of long and short portfolios creates potential conflicts of interest including the risk that short sale activity could adversely affect the market value of the long
                            positions (and vice versa), the risk arising from sequential orders in long and short positions, and the risks associated with receiving opposing orders at the same time. The Advisor has adopted procedures that it believes are reasonably designed to mitigate these and other potential conflicts of interest. Included in these procedures are specific guidelines developed to provide fair and equitable treatment for all clients whose accounts are managed by each
                            Fund&rsquo;s portfolio management team. The Advisor and the portfolio management team have established monitoring procedures, a protocol for supervisory reviews, as well as compliance oversight to ensure that potential conflicts of interest relating to this type of activity are properly addressed. </font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">The Advisor is owned by Deutsche Bank AG, a multi-national financial services company. Therefore, the Advisor is affiliated with a variety of entities that provide, and/or engage in commercial banking, insurance, brokerage, investment banking, financial advisory, broker-dealer activities (including sales and trading), hedge funds, real estate and private equity investing, in addition to the provision of
            investment management services to institutional and individual investors. Since Deutsche Bank AG, its affiliates, directors, officers and employees (the &ldquo;Firm&rdquo;) are engaged in businesses and have interests in addition to managing asset management accounts, such wide ranging activities involve real, potential or apparent conflicts of interest. These interests and activities include potential advisory, transactional and financial activities and other interests in
            securities and companies that may be directly or indirectly purchased or sold by the Firm for its clients&rsquo; advisory accounts. The Advisor may take investment positions in securities in which other clients or related persons within the Firm have different investment positions. There may be instances in which the Advisor is purchasing or selling for its client accounts, or pursuing an outcome in the context of a workout or restructuring with respect to, securities in which the
            Firm is undertaking the same or differing strategy in other businesses or other client accounts. These are considerations of which advisory clients should be aware and which may cause conflicts that could be to the disadvantage of the Advisor&rsquo;s advisory clients, including the Fund. The Advisor has instituted business and compliance policies, procedures and disclosures that are designed to identify, monitor and mitigate conflicts of interest and, as appropriate, to report them
            to a Fund&rsquo;s Board. </font></p>

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

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="590" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 9.</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS</font></b></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>
            </table>
        </div>

        <div style="WIDTH: 600px">
            <div align="left">
                <table style="MARGIN-LEFT: 4.65pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="621" border="0">
                    <tr style="HEIGHT: 15.75pt">
                        <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15.75pt" valign="bottom" nowrap width="229" rowspan="2">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 3.75pt; TEXT-ALIGN: left"><font size="2">Period</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">(a)</font></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">(b) </font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">(c)</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; HEIGHT: 15.75pt" valign="bottom" nowrap width="116">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">(d) </font></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 103.5pt">
                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 103.5pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Total Number of Shares Purchased</font></p>
                        </td>

                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 103.5pt" valign="bottom" nowrap width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Average Price Paid per Share</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 103.5pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 103.5pt" valign="bottom" nowrap width="116">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs</font></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 15.75pt">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="229">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">December 1 through December 31</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="116">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 15.75pt">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="229">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">January 1 through January 31</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="116">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 15.75pt">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="229">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">February 1 through February 28</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="116">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 15.75pt">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="229">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">March 1 through March 31</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="116">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 15.75pt">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="229">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">April 1 through April 30</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: medium none; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15.75pt" valign="bottom" nowrap width="116">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 17.1pt">
                        <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 17.1pt" valign="bottom" nowrap width="229">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">May 1 through May 31</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 17.1pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 17.1pt" valign="bottom" nowrap width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 17.1pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 17.1pt" valign="bottom" nowrap width="116">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 15.75pt">
                        <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15.75pt" valign="bottom" nowrap width="229">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Total </font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: black 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">0</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15.75pt" valign="bottom" nowrap width="84">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15.75pt" valign="bottom" nowrap width="96">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>

                        <td style="BORDER-RIGHT: black 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: medium none; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15.75pt" valign="bottom" nowrap width="116">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">n/a</font></p>
                        </td>
                    </tr>

                    <tr style="HEIGHT: 28.75pt">
                        <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 28.75pt" valign="top" colspan="5">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>

                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">The Fund may from time to time repurchase shares in the open market at the option of the Board of Trustees and on such terms as the Trustee may determine.</font></p>
                        </td>
                    </tr>
                </table>
            </div>

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

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

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="590" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 10.</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS</font></b></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">There were no material changes to the procedures by which shareholders may recommend nominees to the Fund&rsquo;s Board. 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 Paul K. Freeman, Independent Chairman, DWS Funds, P.O. Box 101833, Denver, CO 80250-1833.</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 11.</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">CONTROLS AND PROCEDURES</font></b></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.5in; TEXT-INDENT: -0.5in; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left"><font size="2">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Chief Executive and Financial Officers concluded that the Registrant&rsquo;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 style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left"><font size="2">(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There have been no changes in the registrant&rsquo;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&rsquo;s internal controls over financial
                        reporting.</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ITEM 12.</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left"><b><font size="2">EXHIBITS</font></b></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left"><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 style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="494">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 30.6pt; TEXT-INDENT: -30.6pt; TEXT-ALIGN: left"><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-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

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

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

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Form N-CSRS Item F</font></p>

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

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

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

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

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="590" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Registrant:</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">DWS Municipal Income Trust</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">By:</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><u><font size="2">/s/Michael G. Clark</font></u></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Michael G. Clark</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">President</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Date:</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><u><font size="2">July 30, 2010</font></u></p>
                    </td>
                </tr>
            </table>
        </div>

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

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

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="590" border="0">
                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Registrant:</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">DWS Municipal Income Trust</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">By:</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><u><font size="2">/s/Michael G. Clark</font></u></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Michael G. Clark</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">President</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Date:</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><u><font size="2">July 30, 2010</font></u></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">By:</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><u><font size="2">/s/Paul Schubert</font></u></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Paul Schubert</font></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Chief Financial Officer and Treasurer</font></p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="200">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Date:</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="390">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><u><font size="2">July 30, 2010</font></u></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
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<div style='width:600;'>



<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>


<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, 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>


<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'>
    <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="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, 2010</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'>
    <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, 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>


<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; 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, 2010</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>



<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>
<HTML>
<HEAD>
<TITLE> </TITLE>
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<BODY bgcolor="#ffffff" style='font-family:"Times New Roman"'>

<div style='width:600;'>



<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='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;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, 2010</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>


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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>
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            <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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>July 30, 2010</font></p> </td>
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            <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>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:3pt'><font size=1>&nbsp;</font></p>  </td>
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            <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>
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            <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>
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            <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>
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