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<SEC-DOCUMENT>0000930413-05-006396.txt : 20050902
<SEC-HEADER>0000930413-05-006396.hdr.sgml : 20050902
<ACCEPTANCE-DATETIME>20050902115809
ACCESSION NUMBER:		0000930413-05-006396
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20050630
FILED AS OF DATE:		20050902
DATE AS OF CHANGE:		20050902
EFFECTIVENESS DATE:		20050902

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK GLOBAL FLOATING RATE INCOME TRUST
		CENTRAL INDEX KEY:			0001287480
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21566
		FILM NUMBER:		051066755

	BUSINESS ADDRESS:	
		STREET 1:		40 EAST 52ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-754-5336

	MAIL ADDRESS:	
		STREET 1:		40 EAST 52ND STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK VARIABLE RATE & INFLATION PROTECTED SECURITIES
		DATE OF NAME CHANGE:	20040416
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>c38790_ncsrs.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">


<center>
  <FONT face="serif">UNITED STATES </FONT><BR>
  <FONT face="serif">SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
  <FONT face="serif">Washington, D.C. 20549 </FONT><BR>
</center>
<P align="center">
<B><FONT size=4 face="serif">FORM N-CSR </FONT></B><BR>
</P>
<center>
  <p><B><FONT face="serif">CERTIFIED SHAREHOLDER REPORT OF REGISTERED </FONT></B><BR>
      <B><FONT face="serif">MANAGEMENT INVESTMENT COMPANIES </FONT></B></p>
  <p align="left"><BR>
      <FONT face="serif">Investment Company Act file number:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;      811-21566&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></FONT></p>
  <p align="center"><FONT face="serif">    <BR>
          </FONT><u><BR>
          <FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock
          Global Floating Rate Income Trust&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
          </FONT></u><FONT face="serif">(Exact
          name of registrant as specified in charter) </FONT></p>
</center>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR align="center" valign="bottom">
	<TD width=50%>
<FONT face="serif">100 Bellevue Parkway, Wilmington, DE</FONT>&nbsp;
	</TD>
	<TD width=25%>&nbsp;
	</TD>
	<TD width=25%>
<FONT face="serif">19809</FONT>&nbsp;
	</TD>
</TR>
<TR align="center">
	<TD colspan=3>
<HR noshade size=1>
	</TD>
</TR>
<TR align="center" valign="bottom">
	<TD width=50%>
<FONT face="serif">(Address of principal executive offices)</FONT>&nbsp;
	</TD>
	<TD width=25%>&nbsp;
	</TD>
	<TD width=25%>
<FONT face="serif">(Zip code)</FONT>&nbsp;
	</TD>
</TR>
</TABLE>
<p align="center"><BR>
    <FONT face="serif">Robert S. Kapito, President <br>
  </FONT><BR>
    <FONT face="sans-serif"><b>BlackRock Global Floating Rate Income Trust<br>
  </b></FONT> <BR>
    <FONT face="serif"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 East 52nd Street, New York, NY 10022&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></FONT><BR>
    <FONT face="serif"> (Name and address of agent for service) </FONT></p>
<p><BR>
<FONT face="serif">Registrant's telephone number, including area code: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888-825-2257&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></p>
<p>
  <FONT face="serif">Date of fiscal year end: </FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif">December
31, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U></p>
<p>
  <FONT face="serif">Date of reporting period: </FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="serif"> June
    30, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></U><FONT face="serif"></FONT><BR>

</p>
<HR noshade  width="100%" size=4>

<P align="left" style="page-break-before:always"></P><PAGE>
<P>
<B><FONT face="serif">Item 1. Reports to Shareholders.</FONT></B><FONT face="serif"> <br>
</FONT><FONT face="serif">The
Registrant&#146;s semi-annual report transmitted to shareholders pursuant to
Rule 30e-1 under the Investment Company Act of 1940 is as follows: </FONT></P>
<P>
<HR style="MARGIN-TOP: -5px" align=left width="100%" noShade SIZE=4>

<HR style="MARGIN-TOP: -10px" align=left width="100%" noShade SIZE=1>

<TABLE cellSpacing=0 cellPadding=0 width="75%" borDER=0>

  <TR style="FONT-SIZE: 1px">
    <TD vAlign=top width="8%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="10%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="6%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="10%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="6%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="10%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="8%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="10%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="16%">
      <P>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top noWrap>
      <P><FONT face=ARIAL size=1>FIXED INCOME</FONT></P></TD>
    <TD vAlign=top>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P><FONT face=ARIAL size=1>LIQUIDITY </FONT></P></TD>
    <TD vAlign=top>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P><FONT face=ARIAL size=1>EQUITIES</FONT></P></TD>
    <TD vAlign=top>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P><FONT face=ARIAL size=1>ALTERNATIVES</FONT></P></TD>
    <TD vAlign=top>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top noWrap>
      <P align=right><FONT face=ARIAL size=1>BLACKROCK
  SOLUTIONS</FONT></P></TD>
</TR>
</TABLE>
<BR>

<TABLE cellSpacing=0 cellPadding=0 width="75%" borDER=0>

  <TR style="FONT-SIZE: 1px">
    <TD vAlign=top width="5%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="95%">
      <P>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor=black>
      <P><FONT face=ARIAL color=white size=5>BlackRock</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor=black>
      <P><FONT face=ARIAL color=white size=5>Closed-End Funds</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor=black>
      <P><FONT face=ARIAL color=#e6e6e6 size=5>Semi-Annual
  Report</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor=black>
      <P><FONT face=ARIAL color=white size=2>JUNE 30, 2005 (Unaudited)</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor=black>
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR bgcolor="#BCBDC0">
    <TD vAlign=top bgColor=#808080>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor=#808080>
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT face=ARIAL size=2>BlackRock Advantage Term Trust (BAT)</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT face=ARIAL size=2>BlackRock Global Floating Rate Income Trust (BGT)</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT face=ARIAL size=2>BlackRock High Income Shares (HIS)</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT face=ARIAL size=2>BlackRock Preferred Opportunity Trust (BPP)</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top bgColor="#e6e6e6">
      <P><FONT size=1></FONT>&nbsp;</P></TD></TR>
  </TABLE><BR>

<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0>

  <TR style="FONT-SIZE: 1px">
    <TD vAlign=top width="50%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="50%">
      <P align=right>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=top>
      <P><FONT size=1>&nbsp;</FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT face=ARIAL size=2><IMG alt="(BLACKROCK LOGO)" src="blackrock.jpg"></FONT></P></TD></TR>
  <TR>
    <TD valign=top>
      <P><FONT face=ARIAL size=1>NOT FDIC INSURED</FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1>&nbsp;</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top>
      <P><FONT face=ARIAL size=1>MAY LOSE VALUE</FONT></P></TD>
    <TD vAlign=top>
      <P><FONT size=1>&nbsp;</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top>
      <P><FONT face=ARIAL size=1>NO BANK GUARANTEE</FONT></P></TD>
    <TD vAlign=top>
      <P><FONT size=1>&nbsp;</FONT></P></TD>
</TR>
</TABLE>

<BR>
<HR style="MARGIN-TOP: -2px" noShade SIZE=1>

<HR style="MARGIN-TOP: -10px" noShade SIZE=4>
<P style="PAGE-BREAK-BEFORE: always"></P><PAGE>


<P align=center><FONT size=3><B>TABLE OF CONTENTS</B></FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center borDER=0>

  <TR style="FONT-SIZE: 1px">
    <TD vAlign=bottom width="92%">
      <P>&nbsp;</P></TD>
    <TD vAlign=top width="3%">
      <P align=right>&nbsp;</P></TD>
    <TD vAlign=bottom width="4%">
      <P align=right>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=3><A href="#A001">Letter
      to Shareholders</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>1</FONT></P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=3><A href="#A002">Trusts&#146; Summaries</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>2</FONT></P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=3><A href="#A003">Portfolios
      of Investments</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>6</FONT></P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=3>Financial Statements</FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P       style="MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt; MARGIN-RIGHT: 0in"><FONT       size=3><A href="#A004">Statements
      of Assets and Liabilities</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>29</FONT></P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P       style="MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt; MARGIN-RIGHT: 0in"><FONT       size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P       style="MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt; MARGIN-RIGHT: 0in"><FONT       size=3><A href="#A005">Statements
      of Operations</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>30</FONT></P></TD></TR>
<TR>
    <TD vAlign=bottom>
      <P       style="MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt; MARGIN-RIGHT: 0in"><FONT       size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
<TR>
    <TD vAlign=bottom>
      <P       style="MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt; MARGIN-RIGHT: 0in"><FONT       size=3><A href="#A006">Statements
      of Cash Flows</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>31</FONT></P></TD></TR>

  <TR>
    <TD vAlign=bottom>
      <P
      style="MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt; MARGIN-RIGHT: 0in"><FONT       size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P       style="MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt; MARGIN-RIGHT: 0in"><FONT       size=3><A href="#A007">Statements of Changes in Net Assets</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>32</FONT></P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P       style="MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt; MARGIN-RIGHT: 0in"><FONT       size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P       style="MARGIN-LEFT: 17.3pt; TEXT-INDENT: -8.65pt; MARGIN-RIGHT: 0in"><FONT       size=3><A href="#A008">Financial Highlights</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>34</FONT></P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=3><A href="#A009">Notes to Financial Statements</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>38</FONT></P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=3><A href="#A010">Dividend Reinvestment Plans</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>46</FONT></P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=3><A href="#A011">Board Review of Investment Management Agreements</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>46</FONT></P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD vAlign=bottom>
      <P><FONT size=3><A href="#A012">Additional Information</A></FONT></P></TD>
    <TD vAlign=top>
      <P align=right><FONT size=1></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom>
      <P align=right><FONT size=3>49</FONT></P></TD>
</TR>
</TABLE>
<BR>
<DIV style="BORDER-RIGHT: black 1px solid; PADDING-RIGHT: 10px; BORDER-TOP: black 1px solid; PADDING-LEFT: 10px; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 1px solid"> <P align=center><FONT size=2><B>Privacy Principles of the
Trusts</B></FONT></P>

<P><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trusts are committed to maintaining the privacy of shareholders and to
safeguarding their non-public personal information. The following information is
provided to help you understand what personal information the Trusts collect,
how we protect that information and why, in certain cases, we may share
information with select other parties.</FONT></P>

<P><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generally,
the Trusts do not receive any non-public personal information relating to their
shareholders, although certain non-public personal information of shareholders
may become available to the Trusts. The Trusts do not disclose any non-public
personal information about their shareholders or former shareholders to anyone,
except as permitted by law or as is necessary in order to service shareholder
accounts (for example, to a transfer agent or third-party
administrator).</FONT></P>

<P><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trusts restrict access to non-public personal information about their
shareholders to BlackRock employees with a legitimate business need for the
information. The Trusts maintain physical, electronic and procedural safeguards
designed to protect the non-public personal information of their
shareholders.</FONT></P></DIV><BR>

<HR align=center width="100%" noShade SIZE=4>
<P style="PAGE-BREAK-BEFORE: always" align=left></P><PAGE>

<P ALIGN=CENTER><FONT SIZE=3><B><A NAME="A001"></A>LETTER TO SHAREHOLDERS</B></FONT></P>

<P ALIGN=RIGHT><FONT  SIZE=2>June 30, 2005 </FONT></P>

<P><FONT SIZE=2>Dear Shareholder: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are pleased to report that during the semi-annual period, the Trusts provided
the opportunity to invest in various portfolios of fixed income securities. This report contains the Trusts&#146; unaudited financial
statements and a listing of the portfolios&#146; holdings.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
portfolio management team continuously monitors the fixed income markets and
adjusts the portfolios in order to gain exposure to various issuers and security types. This strategy enables the Trusts to move among
different sectors, credits and coupons to capitalize on changing market
conditions.</FONT></P>

<P><FONT
SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock
Advantage Term Trust is scheduled to liquidate according to its terms on
December 31, 2005.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table shows the Trusts&#146; yields, closing market prices per share and net asset values (&#147;NAV&#148;) per share as of
June 30, 2005.</FONT></P>
<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="60%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="3" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Trust (Ticker)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="3" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Yield<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Market Price</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>NAV</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="3" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>BlackRock Advantage Term
  Trust (BAT)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>5.85</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10.32</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>BlackRock Global Floating
  Rate Income Trust (BGT)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6.33</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>17.70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>19.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>BlackRock High Income
  Shares (HIS)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>9.89</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2.79</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2.69</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>BlackRock Preferred
  Opportunity Trust (BPP)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>8.06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>24.80</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25.18</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
</TABLE>
<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="4%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="95%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD COLSPAN=2 VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>1</SUP> Yield is based on market price.</FONT></P>
  </TD>
 </TR>
 </TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock,
Inc. (&#147;BlackRock&#148;), a world leader in asset management, has a proven commitment
to managing fixed income securities. As of June 30, 2005, BlackRock managed $281
billion in fixed income securities, including 20 open-end and 48 closed-end bond funds. BlackRock is recognized for its emphasis on risk
management and proprietary analytics and for its reputation managing money for
the world&#146;s largest institutional investors. BlackRock Advisors, Inc., and its
affiliate, BlackRock Financial Management, Inc., are
wholly owned subsidiaries of BlackRock.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
behalf of BlackRock, we thank you for your continued confidence and assure you that
we remain committed to excellence in managing your assets.</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="45%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="45%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Sincerely,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><IMG src="signature1.jpg" alt="-s- Laurence D. Fink" ></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><IMG src="signature2.jpg" alt="-s- Ralph L. Schlosstein"></FONT></P>
  </TD>
 </TR>
 <TR STYLE=FONT-SIZE:3PX>
  <TD  VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Laurence D. Fink</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Ralph L. Schlosstein</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Chief Executive Officer</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>President</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>BlackRock Advisors, Inc.</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>BlackRock Advisors, Inc.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>1</FONT></P>

<HR align=center width="100%" noShade SIZE=4>
<P style="PAGE-BREAK-BEFORE: always" align=left></P><PAGE>















<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP NOWRAP>
  <P><FONT SIZE=3><B><A NAME="A002"></A>CONSOLIDATED TRUST SUMMARIES (unaudited)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>JUNE 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
<TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP width="37%">
  <P><FONT SIZE=2 color=white><B>BlackRock Advantage Term
  Trust (BAT)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP width="63%">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT SIZE=2><B>Trust Information</B></FONT>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="80%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>Symbol on New York Stock
  Exchange:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM >
  <P ALIGN=CENTER><FONT SIZE=2>BAT</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>Initial Offering Date:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM >
  <P ALIGN=CENTER><FONT SIZE=2>April
  27, 1990</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
 </TR>
  <TR BGCOLOR="#E6E6E6">
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>Termination Date (on or
  shortly before):</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD NOWRAP COLSPAN="4" VALIGN=BOTTOM >
  <P ALIGN=CENTER><FONT SIZE=2>December
  31, 2005</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>Closing Market Price as of
  6/30/05:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P ALIGN=RIGHT><FONT SIZE=2>10.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
 </TR>
  <TR BGCOLOR="#E6E6E6">
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Net Asset Value as of
  6/30/05:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.32</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>Yield on Closing Market
  Price as of 6/30/05 (10.26):<SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P ALIGN=RIGHT><FONT SIZE=2>5.85</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
 </TR>
  <TR BGCOLOR="#E6E6E6">
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Current Monthly Distribution
  per Share:<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>Current Annualized
  Distribution per Share:<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P ALIGN=RIGHT><FONT SIZE=2>0.60</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

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



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Yield on closing market
  price is calculated by dividing the current annualized distribution per share
  by the closing market price.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
   <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>The distribution is not
  constant and is subject to change.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>The table below summarizes the changes in the
Trust&#146;s market price and NAV:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="44%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="16" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2><B>6/30/05</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2><B>12/31/04</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2><B>Change</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2><B>High</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2><B>Low</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="16" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Market Price</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.47</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(2.01</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.57</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.18</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>NAV</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.32</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.49</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(1.62</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.50</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P><FONT SIZE=2>The following chart shows the portfolio
composition of the Trust&#146;s long-term investments:</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2><B>Portfolio Composition</B></FONT>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="56%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Composition</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>June 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>December 31, 2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>U.S. Government and Agency
  Zero Coupon Bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>84</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>76</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Taxable Municipal Bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Corporate Bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Agency Multiple Class
  Mortgage Pass-Through Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Principal Only
  Mortgage-Backed Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Commercial Mortgage-Backed
  Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Inverse Floating Rate
  Mortgage Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>U.S. Government and Agency
  Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Interest Only
  Mortgage-Backed Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P ALIGN=CENTER><FONT  SIZE=2>2</FONT></P>


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



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>TRUST SUMMARIES (unaudited)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>JUNE 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
<TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP width="30%">
  <P STYLE='MARGIN-RIGHT:5PT; MARGIN-LEFT:5PT;'><FONT SIZE=2 color=white><B>BlackRock Global Floating
  Rate Income Trust (BGT)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP width="37%">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>



<P ALIGN=CENTER><FONT SIZE=2><B>Trust Information</B></FONT>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="80%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>



 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Symbol on New York Stock
  Exchange:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>BGT</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Initial Offering Date:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>August
  30, 2004</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Closing Market Price as of
  6/30/05:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>17.70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Net Asset Value as of
  6/30/05:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>19.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Yield on Closing Market
  Price as of 6/30/05 ($17.70):<SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6.33</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Current Quarterly
  Distribution per Share:<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.0933</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Current Annualized
  Distribution per Share:<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1.1196</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Yield on closing market
  price is calculated by dividing the current annualized distribution per share
  by the closing market price.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
    <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>The distribution is not
  constant and is subject to change.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>The table below summarizes the Trust&#146;s market
price and NAV:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="42%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="16" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE="2"><B>6/30/05</B> </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE="2"><B>12/31/04</B> </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE="2"><B>Change</B> </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE="2"><B>High</B> </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE="2"><B>Low</B> </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
  <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="16" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Market Price</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>17.70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>18.63</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(4.99</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>19.27</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>16.95</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>NAV</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>19.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>19.21</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.47</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>19.45</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>18.96</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P><FONT SIZE=2>The following charts show the portfolio
composition of the Trust&#146;s long-term investments and credit quality allocations
of the Trust&#146;s corporate bond investments:</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2><B>Portfolio Composition</B></FONT>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="55%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Composition</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>June 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>December 31, 2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Foreign Government Bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>22</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>22</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Media</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Consumer Products</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>9</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Energy</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>9</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>8</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Basic Materials</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>8</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Health Care</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Telecommunications</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Entertainment &amp;
  Leisure</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Financial Institutions</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Real Estate</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Containers &amp; Packaging</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Conglomerates</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Technology</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Automotive</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Building &amp; Development</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Aerospace &amp; Defense</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Industrials</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Ecological Services &amp;
  Equipment</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Transportation</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P ALIGN=CENTER><FONT SIZE=2><B>Corporate Credit Breakdown<SUP>3</SUP></B></FONT>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="55%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Credit
  Rating</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>June 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>December 31, 2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>BBB/Baa</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>28</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>21</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>BB/Ba</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>42</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>20</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>28</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>29</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>CCC</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Not Rated</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>28</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Using the higher of
  Standard &amp; Poor&#146;s (&#147;S&amp;P&#148;), Moody&#146;s Investors Service (&#147;Moody&#146;s&#148;) or
  Fitch Ratings (&#147;Fitch&#148;) rating. Corporate bonds represented approximately
  20.8% and 18.1% of net assets on June 30, 2005 and December 31, 2004,
  respectively.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT SIZE=2>3</FONT></P>


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








<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>TRUST
  SUMMARIES (unaudited)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>JUNE 30,
  2005</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
<TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP width="30%">
  <P><FONT SIZE=2 color=white><B>BlackRock High Income
  Shares (HIS)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP width="63%">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>


<P ALIGN=CENTER><FONT SIZE=2><B>Trust Information</B></FONT>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
  <TR style="font-size:1px" >
  <TD WIDTH="80%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Symbol on New York Stock
  Exchange:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>HIS</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Initial Offering Date:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>August
  10, 1988</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Closing Market Price as of
  6/30/05:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2.79</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Net Asset Value as of
  6/30/05:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2.69</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Yield on Closing Market
  Price as of 6/30/05 ($2.79):<SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>9.89</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Current Monthly
  Distribution per Share:<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.023</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Current Annualized
  Distribution per Share:<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>0.276</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Yield on closing market
  price is calculated by dividing the current annualized distribution per share
  by the closing market price.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
    <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=2><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>The distribution is not
  constant and is subject to change.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>The table below summarizes the changes in the
Trust&#146;s market price and NAV:</FONT></P>



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="46%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="16" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>6/30/05</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>12/31/04</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Change</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>High</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Low</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="16" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Market Price</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2.79</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2.90</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(3.79</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3.00</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2.47</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>NAV</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2.69</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2.87</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(6.27</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2.87</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2.56</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P><FONT SIZE=2>The following charts show the portfolio
composition and credit quality allocations of the Trust&#146;s corporate bond
investments:</FONT></P>

<P ALIGN=CENTER><FONT SIZE="2"><B>Corporate Portfolio Composition</B></FONT>



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="57%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Composition</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>June 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>December 31, 2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Media</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>16</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Energy</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>9</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Basic Materials</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Telecommunications</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>9</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Industrials</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>8</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Consumer Products</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>8</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>20</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Financial Institutions</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>8</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Containers &amp; Packaging</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>4</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>4</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Entertainment &amp;
  Leisure</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Health Care</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>4</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Aerospace &amp; Defense</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Building &amp; Development</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Automotive</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Transportation</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Technology</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Ecological Services &amp;
  Equipment</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Conglomerates</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P ALIGN=CENTER><FONT SIZE=2><B>Corporate Credit Breakdown<SUP>3</SUP></B></FONT>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px" >
  <TD WIDTH="57%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>


<TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>BBB/Baa</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Ba/BB</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>20</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>21</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>B/B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>68</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>71</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>CCC/Caa</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>8</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Not Rated</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Using the higher of
  S&amp;P, Moody&#146;s or Fitch rating. Corporate bonds represented approximately
  137.8% and 140.5% of net assets on June 30, 2005, and December 31, 2004,
  respectively.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT SIZE=2>4</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>TRUST
  SUMMARIES (unaudited)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>JUNE 30,
  2005</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
<TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP width="37%">
  <P ><FONT SIZE=2 color=white><B>BlackRock Preferred
  Opportunity Trust (BPP)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP width="63%">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>


<BR>
<div ALIGN=CENTER><FONT SIZE=2><B>Trust Information</B></FONT></div>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="80%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Symbol on New York Stock
  Exchange:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>BPP</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Initial Offering Date:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>February
  28, 2003</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="7" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Closing Market Price as of
  6/30/05:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>24.80</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Net Asset Value as of
  6/30/05:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25.18</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Yield on Closing Market
  Price as of 6/30/05 (24.80):<SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>8.06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Current Monthly
  Distribution per Share:<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.166667</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Current Annualized
  Distribution per Share:<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2.000004</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
<TD WIDTH="3%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="97%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
  <TD VALIGN=TOP>
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1> <SUP>1</SUP></FONT></P>
  </TD>
  <TD VALIGN=TOP>
  <P><FONT SIZE=1>Yield on closing market
  price is calculated by dividing the current annualized distribution per share
  by the closing market price.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
    <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>The distribution is not
  constant and is subject to change.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>The table below summarizes the changes in the
Trust&#146;s market price and NAV:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="43%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="16" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>6/30/05</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>12/31/04</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Change</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>High</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Low</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
  <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="16" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Market Price</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>24.80</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25.39</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(2.32</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25.99</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>22.49</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>NAV</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25.18</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25.88</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(2.70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>26.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25.01</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P><FONT SIZE=2>The following charts show the portfolio
composition and credit quality allocations of the Trust&#146;s long-term
investments:</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2><B>Portfolio Composition</B></FONT>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="54%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Composition</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>June 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>December 31, 2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Financial Institutions</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>73</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>71</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Real Estate</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Energy</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Media</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Consumer Products</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Industrials</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Basic Materials</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Automotive</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Telecommunications</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Containers &amp; Packaging</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Other</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P ALIGN=CENTER><FONT SIZE=2><B>Credit Breakdown<SUP>3</SUP></B></FONT>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="54%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Credit
  Rating</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>June 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>December 31, 2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>AAA/Aaa</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>AA/Aa</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>20</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>A</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>38</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>33</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>BBB/Baa</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>29</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>27</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>BB/Ba</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>8</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>9</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Not Rated</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Using the higher of
  S&amp;P, Moody&#146;s or Fitch rating.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>5</FONT></P>


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







<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="75%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="25%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM NOWRAP>
  <P><FONT SIZE=3><B><A NAME="A003"></A>CONSOLIDATED PORTFOLIO OF
  INVESTMENTS (unaudited) </B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=3><B>JUNE 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:10PT" >
  <TD WIDTH="37%" VALIGN=BOTTOM BGCOLOR=BLACK NOWRAP>
  <P><FONT COLOR=WHITE SIZE=2><B>BlackRock Advantage Term Trust (BAT)</B></FONT></P>
  </TD>
  <TD WIDTH="63%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>LONG-TERM INVESTMENTS&#151;87.7%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Agency Multiple Class Mortgage Pass-Through
  Securities&#151;2.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal Home Loan
  Mortgage Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>674</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 2919, Class
  ZD, 4.50%, 1/15/20</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>674,060</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,471</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 2930, Class
  ZD, 4.50%, 2/15/20</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,470,309</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>463</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 2949, Class
  ZY, 5.50%, 3/15/35</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>462,175</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>95</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal National
  Mortgage Assoc., Ser. 43, Class E, 4/25/22</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>97,954</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Agency
  Multiple Class Mortgage Pass-Through Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,704,498</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Inverse Floating Rate Mortgage
Securities&#151;0.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal Home Loan
  Mortgage Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>152</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>2</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 2752, Class
  SV, 9.69%, 9/15/33</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>151,812</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>373</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>2</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 2791, Class
  SE, 14.32%, 5/15/34</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>372,948</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>221</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>2</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal National
  Mortgage Assoc., Ser. 190, Class S, 15.894%, 11/25/07</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>236,024</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Inverse
  Floating Rate Mortgage Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>760,784</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Interest Only Mortgage-Backed
Securities&#151;0.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Deutsche Mortgage
  Secs., Inc. Mortgage Loan Trust, Ser. 2, Class AIO, 3.50%, 2/25/06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>85,080</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal Home Loan
  Mortgage Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>77</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>2</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 1543, Class
  VU, 11.41%, 4/15/23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,594</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>51</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 1588, Class
  PM, 6.50%, 9/15/22</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>634</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,204</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 2543, Class
  IJ, 5.00%, 10/15/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>137,697</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,882</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 2620, Class
  WI, 5.50%, 4/15/33</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>44,109</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal National
  Mortgage Assoc.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>46</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 188, Class
  VA, 6.50%, 3/25/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>332</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>174</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 194, Class
  PV, 6.50%, 6/25/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,789</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>111</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 223, Class
  PT, 6.50%, 10/25/23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>9,698</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Interest
  Only Mortgage-Backed Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>288,933</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Principal Only Mortgage-Backed
Securities&#151;2.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>AAA</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Collateralized
  Mortgage Obligation Trust, Ser. 29, Class A, 11.50%, 5/23/17</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,226</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal National
  Mortgage Assoc.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,444</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 193, Class
  E, 8.50%, 9/25/23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,189,321</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,149</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 225, Class
  ME, 8.00%, 11/25/23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>953,802</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Principal
  Only Mortgage-Backed Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,151,349</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Commercial Mortgage-Backed Securities&#151;0.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>AAA</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>754</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>4</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>New York City
  Mortgage Loan Trust, Multi-Family, Class A2, 6.75%, 6/25/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>775,371</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Asset-Backed Securities&#151;0.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>391</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>3,4,5,6</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Global Rated Eligible
  Asset Trust, Ser. A, Class 1, 7.33%, 9/15/07</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>43,063</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>839</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>3,5,6</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Structured
  Mortgage Asset Residential Trust, Ser. 3, 8.724%, 4/15/06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>92,319</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total
  Asset-Backed Securities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>135,382</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Collateralized Mortgage Obligation
Residuals&#151;0.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>2</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal Home Loan
  Mortgage Corp., Ser. 1035, Class R, 4.88%, 1/15/21</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>U.S. Government and Agency Zero Coupon
Bonds&#151;73.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,203</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Aid to Israel,
  8/15/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,178,238</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>11,026</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>7</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Financing Corp.
  (FICO) Strips, 12/06/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10,860,720</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>22,926</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>7</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Resolution
  Funding Corp., 7/15/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>22,903,991</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,216</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>7</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Tennessee Valley
  Authority, 11/01/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,152,970</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>U.S. Treasury
  Strips,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>18,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8/15/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>17,930,970</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>11/15/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,902,632</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total U.S.
  Government and Agency Zero Coupon Bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>71,929,521</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>6</FONT></P>


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




<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:10PT" >
  <TD WIDTH="37%" VALIGN=BOTTOM BGCOLOR=BLACK NOWRAP>
  <P><FONT COLOR=WHITE SIZE=2><B>BlackRock Advantage Term Trust (BAT) (continued)</B></FONT></P>
  </TD>
  <TD WIDTH="63%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Corporate Bonds&#151;3.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Energy&#151;1.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>4</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Israel Electric
  Corp., Ltd., 7.25%, 12/15/06 (Israel)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,040,340</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Financial Institutions&#151;2.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>AA+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>950</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Citigroup, Inc.,
  5.75%, 5/10/06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>963,224</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,035</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-BOTTOM:-5Px"><SUP><FONT SIZE=1>4</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Equitable Life
  Assurance Society, zero coupon, 12/01/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,018,836</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,982,060</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Corporate
  Bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,022,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>U.S. Government and Agency Securities&#151;0.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>337</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Small Business
  Investment Cos., Ser. P10A, Class 1, 6.12%, 2/01/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>348,476</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Taxable Municipal Bonds&#151;4.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>AAA</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Alameda Cnty.
  California Pension Oblig., zero coupon, 12/01/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>985,860</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>AAA</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Alaska Energy
  Auth., zero coupon, 7/01/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>AAA</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,033</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Kern Cnty.
  California Pension Oblig., zero coupon, 8/15/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,029,425</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,034</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Long Beach
  California Pension Oblig., zero coupon, 9/01/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,028,501</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Taxable
  Municipal Bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,043,786</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><B>Total
  Long-Term Investments (cost $85,712,526)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>86,160,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>SHORT-TERM INVESTMENTS&#151;44.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>U.S. Government and Agency Zero Coupon
Bonds&#151;44.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>26,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal Home Loan
  Bank Discount Notes, 7/01/05-7/20/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>25,960,020</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>18,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal National
  Mortgage Assoc. Discount Notes, 7/01/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>18,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><B>Total
  Short-Term Investments (cost $43,960,021)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>43,960,020</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><B>Total
  investments&#151;132.5% (cost $129,672,547<SUP>8</SUP>)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>130,120,520</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Liabilities in
  excess of other assets&#151;(32.5)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(31,926,487</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><B>Net
  Assets&#151;100%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>98,194,033</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

</TABLE>


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>

 <TR>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="120" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>



 <TR>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-TOP:-5Px"><SUP><FONT SIZE=1>1</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Using the higher of
  S&amp;P&#146;s, Moody&#146;s or Fitch&#146;s ratings.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-TOP:-5Px"><SUP><FONT SIZE=1>2</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Security interest rate is as
  of June 30, 2005.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-TOP:-5Px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Interest rate shown is rate
  as of June 30, 2005 of the underlying collateral.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
    <P STYLE="MARGIN-top:-5Px"><SUP><FONT SIZE=1>4</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:5Px"><FONT SIZE=1>Security is not registered
  under the Securities Act of 1933. These securities may be resold in
  transactions in accordance with Rule 144A under that Act, to qualified
  institutional buyers. As of June 30, 2005, the Trust held 2.9% of its net
  assets, with a current market value of $2,877,610, in securities restricted
  as to resale.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
   <P STYLE="MARGIN-TOP:-5Px"><SUP><FONT SIZE=1>5</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Security is fair valued.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
    <P STYLE="MARGIN-TOP:-5Px"><SUP><FONT SIZE=1>6</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Illiquid securities
  representing 0.14% of net assets.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=top>
    <P STYLE="MARGIN-top:-5Px"><SUP><FONT SIZE=1>7</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:5Px"><FONT SIZE=1>Entire or partial principal
  amount pledged as collateral for reverse repurchase agreements. See Note 4 in
  the Notes to Financial Statements for details of open reverse repurchase
  agreements.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
    <P STYLE="MARGIN-TOP:-5Px"><SUP><FONT SIZE=1>8</FONT></SUP></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:5Px"><FONT SIZE=1>Cost for Federal income tax
  purposes is $129,732,387. The net unrealized appreciation on a tax basis is
  $388,133 consisting of $860,230 gross unrealized appreciation and $472,097
  gross unrealized depreciation.</FONT></P>
  </TD>
 </TR>
</TABLE>



<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>



<P ALIGN=CENTER><FONT SIZE=2>7</FONT></P>


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






<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 WIDTH="100%" >
 <TR style="font-size:1px">
  <TD WIDTH="50%" VALIGN=bottom>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="50%" VALIGN=bottom>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P align=left><FONT SIZE=3><B>PORTFOLIO OF INVESTMENTS (unaudited) <BR>
JUNE 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%" >
 <TR style="font-size:1px">
  <TD WIDTH="37%"  VALIGN=TOP BGCOLOR=BLACK NOWRAP>
  <P>
  <FONT  color=white SIZE=2><B>BlackRock Global Floating Rate Income Trust (BGT)</B></FONT></P>
  </TD>
  <TD WIDTH="63%"  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating</B><FONT SIZE=2><SUP><B>1</B></SUP></FONT></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>

  <TD  VALIGN=BOTTOM COLSPAN=2>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="5" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>LONG-TERM
  INVESTMENTS&#151;155.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Corporate
  Bonds&#151;20.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Automotive&#151;0.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>125</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Accuride Corp., 8.50%, 2/01/15 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>122,188</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>475</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>ArvinMeritor, Inc., 8.75%, 3/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>496,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>30</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Cooper-Standard Automotive, Inc., 7.00%, 12/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>27,450</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>525</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Delco Remy Intl., Inc., 7.141%, 4/15/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>526,312</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>215</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Delphi Corp., 6.50%, 5/01/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>178,450</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>40</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Goodyear Tire &amp; Rubber Co., 7.857%, 8/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>38,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>150</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Metaldyne Corp., 10.00%, 11/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>122,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,511,825</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Basic
  Materials&#151;1.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Abitibi-Consolidated, Inc. (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.91%, 6/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>992,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>90</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.375%, 4/01/15</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>91,912</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>260</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Boise Cascade LLC, 6.016%, 10/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>260,650</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Bowater, Inc., 6.41%, 3/15/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,012,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>70</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Donohue Forest Products, 7.625%, 5/15/07 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>71,050</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Ba3</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Hercules, Inc., 6.75%, 10/15/29</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>727,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>95</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Intl. Steel Group, Inc., 6.50%, 4/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>91,438</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Lyondell Chemical Co.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>300</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>11.125%, 7/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>339,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>300</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. A, 9.625%,
  5/01/07 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>320,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>565</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Nalco Co., 8.875%, 11/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>604,550</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>NewPage Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.46%, 5/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,507,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>10.00%, 5/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>70,525</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>100</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>PQ Corp., 7.50%, 2/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>98,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Trimas Corp., 9.875%, 6/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>630,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,818,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Building
  &amp; Development&#151;0.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Ainsworth Lumber Co. Ltd., 6.84%, 10/01/10 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>995,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>90</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Compression Polymers Corp., 10.50%, 7/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>91,575</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>240</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Goodman Global Holding Co., Inc., 7.875%, 12/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>222,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,308,575</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Consumer
  Products&#151;0.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>45</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>ALH Finance LLC/ALH Finance Corp., 8.50%, 1/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>41,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,050</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Duane Reade, Inc., 7.91%, 12/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,039,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>110</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Finlay Fine Jewelry Corp., 8.375%, 6/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>97,900</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>40</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Gold Kist, Inc., 10.25%, 3/15/14</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>45,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>400</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Lazydays RV Center, Inc., 11.75%, 5/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>417,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>180</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Levi Strauss &amp; Co., 7.73%, 4/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>170,550</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Movie Gallery, Inc., 11.00%, 5/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>315,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>365</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Rite Aid Corp., 6.125%, 12/15/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>344,925</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,471,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Containers
  &amp; Packaging&#151;0.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Crown European Hldgs. SA, 10.875%, 3/01/13 (France)</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>885,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Ecological
  Services &amp; Equipment&#151;0.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>625</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Allied Waste NA, Ser. B, 5.75%, 2/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>584,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Energy&#151;8.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>AES Corp., 9.00%,
  5/15/15 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>840,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Compagnie
  Generale de Geophysique SA, 7.50%, 5/15/15 (France)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>72,450</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Compton Petroleum
  Corp., Ser. A, 9.90%, 5/15/09 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>787,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>El Paso
  Production Holding Co., 7.75%, 6/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>801,562</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Foundation
  Pennsylvania Coal Co., 7.25%, 8/01/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>787,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>14,430</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Gazprom OAO,
  9.625%, 3/01/13 (Russia)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>17,662,320</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>730</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>KCS Energy, Inc.,
  7.125%, 4/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>740,950</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>


<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>8</FONT></P>


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

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%" >
 <TR style="font-size:1px">
  <TD WIDTH="37%"  VALIGN=TOP BGCOLOR=BLACK NOWRAP>
  <P>
  <FONT  color=white SIZE=2><B>BlackRock Global Floating Rate Income Trust (BGT) (continued)</B></FONT></P>
  </TD>
  <TD WIDTH="63%"  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>
<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Energy&#151;(cont&#146;d)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>60</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>North American Energy Partners, Inc., 9.00%, 5/15/10
  (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>60,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Pemex Project Funding Master Trust,</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>Baa1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.375%, 12/02/08</FONT></P>
  </TD>

  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>910,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>


 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa1</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>12,700</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. 15, 4.941%,
  10/15/09</FONT></P>
  </TD>

  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>13,347,700</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Reliant Energy, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.75%, 12/15/14</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>245,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.25%, 7/15/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>811,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>300</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Swift Energy Co., 7.625%, 7/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>309,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>300</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Whiting Petroleum Corp., 7.25%, 5/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>307,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>37,685,507</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Entertainment
  &amp; Leisure&#151;0.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>MGM Mirage, 5.875%, 2/27/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>727,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>25</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Poster Financial Group, Inc., 8.75%, 12/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>25,438</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Wynn Las Vegas LLC/Wynn Las Vegas Cap. Corp., 6.625%,
  12/01/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>67,900</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>820,838</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Financial Institutions&#151;3.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>95</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>AES Ironwood LLC,
  8.857%, 11/30/25 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>107,156</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>140</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>American Real
  Estate Partners LP/American Real Estate Finance Corp., 7.125%, 2/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>137,900</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Crum &amp;
  Forster Hldgs. Corp., 10.375%, 6/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>813,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>60</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ford Motor Credit
  Co., 7.25%, 10/25/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>58,075</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>General Motors
  Acceptance Corp., 4.05%, 1/16/07</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,934,030</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

<TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,455</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Kazkommerts Intl.
  BV, 8.50%, 4/16/13 (Netherlands)</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,982,620</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>25</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Marsh &amp;
  McLennan Cos., Inc., 3.28%, 7/13/07</FONT></P>
  </TD>

  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>24,846</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Rainbow National
  Services LLC, 8.75%, 9/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>813,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>300</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Universal City
  Florida Hldg. Co. I/II, 7.96%, 5/01/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>312,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>14,184,127</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Health
  Care&#151;0.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Curative Health Services, Inc., 10.75%, 5/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>7,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>IASIS Healthcare LLC/IASIS Cap. Corp., 8.75%, 6/15/14
  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>813,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>70</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Insight Health Services Corp., Ser. B, 9.875%,
  11/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>54,950</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Tenet Healthcare Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>30</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.375%, 12/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>28,650</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>50</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.875%, 7/01/14</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>53,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>830</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Universal Hospital Services, Inc., 10.125%, 11/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>848,675</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>450</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>US Oncology, Inc., 9.00%, 8/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>481,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,288,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Industrials&#151;0.7%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>400</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Cenveo Corp., 7.875%, 12/01/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>383,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>705</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>DI Finance/DynCorp. Intl., 9.50%, 2/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>652,125</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>125</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Hydrochem Industrial Services, 9.25%, 2/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>115,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>555</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Knowledge Learning Corp., Inc., 7.75%, 2/01/15</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>525,863</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>180</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>NationsRent Cos., Inc., 9.50%, 5/01/15</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>177,300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

<TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>325</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Park-Ohio Inds., Inc., 8.375%, 11/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>284,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>210</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Sunstate Equipment Co. LLC, 10.50%, 4/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>215,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>600</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>United Rentals NA, Inc., 7.00%, 2/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>573,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,925,913</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Media&#151;0.6%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cablecom SCA,
  4.898%, 4/15/12 (Luxembourg) (EUR)</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>299,685</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>780</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Charter
  Communications Hldgs. II LLC/Charter Communications Hldgs. II Cap. Corp.,
  10.25%, 9/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>789,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>350</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Choctaw Resort
  Development Enterprise, 7.25%, 11/15/19 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>349,125</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Echostar DBS
  Corp., 6.375%, 10/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>744,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Nexstar Finance,
  Inc., 7.00%, 1/15/14</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>64,838</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>485</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Primedia, Inc.,
  7.625%, 4/01/08 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>490,456</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,738,229</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Real
  Estate&#151;1.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,350</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Rouse Co., 5.375%, 11/26/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,220,714</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Technology&#151;0.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Freescale Semiconductor, Inc., 5.891%, 7/15/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP  BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,563,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>



<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>9</FONT></P>


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











<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5% WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="40%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="60%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP bgcolor="#000000" nowrap>
  <P><FONT SIZE=2 color=white><B>BlackRock Global Floating Rate Income Trust (BGT) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>(000)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Technology&#151;(cont&#146;d)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P align=center><FONT SIZE=1>Ba3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P style="margin-top:-5px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom NOWRAP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN' ><FONT SIZE=1>MagnaChip Semiconductor
  SA/MagnaChip Semiconductor Finance Co., 6.66%, 12/15/11 (Luxembourg)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,865,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P align=center><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>140</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Superior Essex
  Communications LLC/Essex Group, Inc., 9.00%, 4/15/12  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>139,300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,568,675</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Telecommunications&#151;2.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P align=center><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>810</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Cincinnati Bell, Inc.,
  7.25%, 7/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>852,525</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Dobson Cellular Systems,
  Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=Bottom>
  <P align=center><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>325</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P style="margin-top:-5px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>7.96%, 11/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>338,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P align=center><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>350</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P style="margin-top:-5px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>8.375%, 11/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>367,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=Bottom>
  <P align=center><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>115</FONT></P>
  </TD>
  <TD  VALIGN=Bottom>
  <P style="margin-top:-5px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Hawaiian Telcom
  Communications, Inc., 8.914%, 5/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>118,163</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Intelsat Ltd. (Bermuda)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P align=center><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>75</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>5.25%, 11/01/08 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>70,031</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P align=center><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>485</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P style="margin-top:-5px"><SUP><FONT SIZE=1>2,3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>7.805%, 11/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>493,488</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=Bottom>
  <P align=center><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>50</FONT></P>
  </TD>
  <TD  VALIGN=Bottom>
  <P style="margin-top:-5px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>8.25%, 1/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>51,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P align=center><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P style="margin-top:-5px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>8.625%, 1/15/15 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>210,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P align=center><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,350</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Qwest Communications Intl.,
  Inc., 7.268%, 12/15/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,303,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P align=center><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,500</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P style="margin-top:-5px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Qwest Corp., 6.671%,
  6/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,550,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P align=center><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>945</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Qwest Services Corp.,
  13.50%, 12/15/10  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,091,475</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P align=center><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>400</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Rogers Wireless
  Communications, Inc., 6.535%, 6/15/13 (Canada) </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>418,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P align=center><FONT SIZE=1>CCC</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>385</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Rural Cellular Corp.,
  9.875%, 2/01/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>397,512</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>9,261,819</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Transportation&#151;0.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P align=center><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>400</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P style="margin-top:-5px"><SUP><FONT SIZE=1>3</FONT></SUP></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=Bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Horizon Lines LLC,
  9.00%, 11/01/12   </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>417,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P align=center><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>OMI Corp., 7.625%,
  12/01/13 (Marshall Island) </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>750,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,167,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Total Corporate Bonds </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>94,441,722</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Bank Loans&#151;100.6%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Aerospace &amp; Defense&#151;2.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,970</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>CACI Intl., Inc., Term
  Loan, LIBOR + 1.50%, 2/04/07  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,995,912</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Camp Acquisition Co.,
  Term Loan A,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>984</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>PRIME + 2.00%,
  8/30/11   </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>983,871</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>8</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 3.25%, 8/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,064</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Dyncorp International
  LLC, Loan Term B, LIBOR + 2.75%, 1/31/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,007,917</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>MRO Acquisition LLC,
  Term Loan, LIBOR + 5.25%, 9/15/11  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,035,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,492</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Standard Aero, Inc.,
  Term Loan, LIBOR + 2.25%, 8/18/12  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,523,462</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9,554,226</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Automotive&#151;2.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Goodyear Tire &amp;
  Rubber Co., Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 2.75%, 4/01/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>498,928</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 3.50%, 4/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>978,214</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>998</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Hilite Intl., Term Loan
  B, LIBOR + 4.00%, 4/15/10  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>988,356</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Metaldyne Co. LLC, Term
  Loan D, LIBOR + 4.50%, 12/31/09    </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>956,667</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Polar Corp., Term Loan,
  LIBOR, 5/30/10  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,767,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,861</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Progressive Moulded
  Products, Ltd., Term Loan B, LIBOR + 2.50%, 8/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,704,908</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>TI Group Automotive
  Systems NA, Term Loan C, LIBOR + 3.25%, 6/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,921,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>496</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>TRW Automotive
  Acquisitions Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Term Loan B, LIBOR +
  1.50%, 6/30/12   </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>497,225</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Term Loan E, LIBOR +
  1.50%, 10/31/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,496,867</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>12,809,915</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

<TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Basic Materials&#151;11.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,978</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Appleton Papers, Inc.,
  Term Loan, LIBOR + 2.25%, 6/30/10  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,001,692</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Berry Plastics Corp.,
  Term Loan, LIBOR + 2.25%, 7/22/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,014,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,520</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Boise Cascade LLC, Term
  Loan D, LIBOR + 1.75%, 10/31/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,550,099</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>798</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Buckeye Technologies,
  Inc., Term Loan, LIBOR + 2.00%, 4/15/10
  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>808,092</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Celanese, Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>383</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>0.75%, 4/06/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>385,769</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,606</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 2.25%, 6/03/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,653,238</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Cognis Deutschland, Term
  Loan, LIBOR + 4.75%, 11/15/13  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,030,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,638</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Foundation Coal Corp.,
  Term Loan B, LIBOR + 2.00%, 7/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,656,729</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>992</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Hercules, Inc., Term
  Loan B, LIBOR + 1.75%, 4/07/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000,898</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>


<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>10</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5% WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="40%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="60%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP bgcolor="#000000" nowrap>
  <P><FONT SIZE=2 color="white"><B>BlackRock Global Floating Rate Income Trust (BGT) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH=10% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=1% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=5% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=55% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=1% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=12% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=1% VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>(000)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

  <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Basic Materials&#151;(cont&#146;d)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,488</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Huntsman Intl., LLC,
  Term Loan B, LIBOR + 2.25%, 12/31/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,493,858</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,115</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Huntsman LLC, Term Loan,
  LIBOR + 3.50%, 3/30/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,129,774</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,900</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Innophos, Inc., Term
  Loan, LIBOR + 2.75%, 8/15/10  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,921,213</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,012</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Intermet Corp., PRIME +
  3.25%, 3/31/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,935,213</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>4,824</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Invista, New Term B,
  LIBOR + 2.25%, 4/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,890,449</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,050</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Koch Cellulose, LLC,
  Term Loan, LIBOR + 1.75%, 5/01/11  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,058,626</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Kraton Polymers, LLC,
  Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>221</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 2.75%, 12/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>224,024</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>PRIME + 1.50%, 12/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>569</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,831</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Nalco Co., Term Loan B,
  LIBOR + 2.00%, 11/04/10  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,917,269</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>PQ Corp., Term Loan,
  LIBOR + 2.00%, 2/28/12  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>503,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>963</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Professional Paint,
  Inc., Term Loan, PRIME + 3.25%, 9/30/11
  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>972,125</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>6,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Rockwood Specialties
  Group, Inc., Term Loan D, LIBOR + 2.50%, 8/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,582,602</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,980</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Supresta LLC, Term Loan,
  LIBOR + 3.00%, 7/16/11  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,994,850</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>51,725,589</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Building &amp; Development&#151;2.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Atrium Companies, Inc.,
  Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>240</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 2.75%, 12/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>229,637</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>8</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 2.75%, 12/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,261</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Custom Building
  Products, Inc., Term Loan, LIBOR + 5.00%, 4/30/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,485,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Euramax International,
  Inc., Term Loan, TBD, 7/15/13  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>500,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Juno Lighting, Inc.,
  Term Loan, LIBOR + 5.50%, 5/10/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,015,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Landsource Communities
  Development, LLC, Term Loan B, LIBOR + 2.50%, 3/31/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,003,214</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Nortek, Inc., Term Loan
  B,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>988</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 2.25%, 8/24/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>991,820</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>PRIME + 1.25%,
  8/24/11  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,022</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,390</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Ply Gem Industries,
  Inc., USD Term Loan, LIBOR + 2.50%, 2/12/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,389,613</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,247</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Walnut Investment Co.
  LLC, Term Loan, LIBOR + 2.75%, 4/30/12
  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,253,110</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,880,677</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Business Equipment &amp; Services&#151;0.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>998</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Latham Intl. Ltd., Term
  Loan, LIBOR + 4.00%, 12/31/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>997,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Conglomerates&#151;3.9%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Atlantis Plastics, Inc.,
  Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>998</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 2.75%, 9/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,006,228</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 7.25%, 9/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,002,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>PRIME + 0.75%, 9/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,522</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,850</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Fidelity National
  Information Solutions, Inc., Term Loan B, LIBOR + 1.75%, 3/30/13  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,841,329</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Gentek, Inc., Term Loan,
  LIBOR + 5.75%, 3/15/12  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>462,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Honeywell Security
  Group, Term Loan B,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,465</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 4.00%, 6/28/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,486,656</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>9</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>PRIME + 3.00%, 6/28/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,805</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>IAP Acquisition Corp.,
  Term Loan, LIBOR + 2.75%, 3/31/11  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>501,875</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Invensys Intl. Holdings
  Ltd.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Term Loan, LIBOR,
  3/05/09  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,940,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Term Loan, LIBOR +
  4.75%, 11/30/09  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,035,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>977</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Term Loan B1, LIBOR +
  3.50%, 8/30/09  </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>991,232</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>494</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>NDC Health Corp., Term
  Loan, LIBOR + 3.00%, 11/04/08  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>499,335</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Penn Engineering &amp;
  Manufacturing, Term Loan, LIBOR, 4/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>502,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,571</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Polypore, Inc., Term
  Loan, LIBOR + 2.25%, 11/15/11  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,579,820</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Rexnord Corp., Term
  Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>737</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 2.25%, 10/31/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>742,445</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>13</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>PRIME + 1.00%, 10/31/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>12,867</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>17,615,114</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT    SIZE=2><B>Consumer Products&#151;16.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>24 Hour Fitness
  Worlwide, Inc., Term Loan B, LIBOR, 6/30/12
  </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,013,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Adams Outdoor
  Advertising, L.P., Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>499</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>LIBOR + 2.00%, 10/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>504,569</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:.2IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>PRIME + 0.75%, 10/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,265</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,995</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:.1IN;TEXT-INDENT:-.1IN'><FONT SIZE=1>Alliance One
  International, Inc., Term Loan B, LIBOR + 3.25%, 5/13/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,027,419</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>


<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>11</FONT></P>

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



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="37%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="63%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock Global Floating Rate Income Trust (BGT) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>(000)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Consumer
  Products&#151;(cont&#146;d)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Berkline/BenchCraft Holdings, LLC,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan, LIBOR
  + 8.00%, 4/30/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,020,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,975</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 3.00%, 10/31/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,979,937</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>995</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Carrols Corp.,
  Term Loan, LIBOR + 2.50%, 12/31/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,004,121</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>746</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Central Garden
  Pet, Term Loan B, LIBOR + 1.75%, 5/30/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>753,680</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Chiquita Brands
  International,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 2.50%, 7/15/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>505,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan C,
  LIBOR + 2.50%, 7/15/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>505,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,470</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Church &amp;
  Dwight Co., Inc., Term Loan B, LIBOR + 1.75%, 5/31/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,482,066</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,384</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>CKE Restaurants,
  Inc., Term Loan, LIBOR + 2.00%, 5/17/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,397,942</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Coinmach Service
  Corp., Term Loan B,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,860</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 3.00%,
  7/30/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,880,739</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>107</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 2.00%,
  7/30/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>108,056</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,191</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Constellation
  Brands, Inc., Term Loan B, LIBOR + 1.75%, 12/31/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,201,113</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Culligan
  International Co., Term Loan B, LIBOR + 2.75%, 10/15/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>757,187</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,486</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Delaware
  Laboratories, Inc., Term Loan, LIBOR + 2.25%, 10/30/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,490,915</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Denny&#146;s Corp.,
  Term Loan, LIBOR + 5.13%, 8/25/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,605,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,985</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Desa
  International, Inc., Term Loan, LIBOR + 5.00%, 12/30/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,865,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>993</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Doane Pet Care
  Co., Term Loan, LIBOR + 4.00%, 11/15/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,009,869</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Fender Musical
  Instruments Corp., Term Loan, LIBOR + 4.50%, 9/30/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>506,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>410</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Herbalife Intl.,
  Inc., Term Loan, LIBOR + 1.75%, 12/31/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>410,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,669</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Jarden Corp.,
  Term Loan, LIBOR + 2.00%, 1/15/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,683,129</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Knoll, Inc., Term
  Loan,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,670</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 3.00%,
  10/15/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,693,559</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>24</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 2.00%,
  10/15/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>23,853</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>995</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Landry&#146;s
  Restaurants, Inc., Term Loan, LIBOR + 1.75%, 12/31/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,004,328</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>734</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Language Line,
  Inc., Term Loan B, LIBOR + 4.25%, 6/14/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>741,313</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Maidenform, Inc.,
  Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>264</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 2.75%,
  5/14/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>264,172</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 1.75%,
  5/14/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,383</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>590</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 6.50%,
  5/11/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>595,900</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Mapco Express,
  Inc., Term Loan, LIBOR + 2.75%, 5/15/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,012,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Movie Gallery,
  Inc., Term Loan B, LIBOR + 3.00%, 4/30/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,535,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,929</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>National Bedding
  Co., LLC, Term Loan B, LIBOR + 2.25%, 8/25/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,964,224</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>NewPage Corp.,
  Term Loan B, LIBOR + 3.00%, 4/30/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,030,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Olympus Cable
  Holdings, LLC, Term Loan B, PRIME + 1.25%, 9/30/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,455,623</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>995</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Oreck Corp., Term
  Loan B, LIBOR + 2.75%, 1/31/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>999,975</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Oriental Trading
  Co., Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,231</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan, LIBOR
  + 4.75%, 12/02/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,488,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>403</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 2.50%, 8/06/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,137,852</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,473</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>OSI Group LLC,
  Term Loan, LIBOR + 2.50%, 9/15/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,499,992</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,583</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Pierre Foods,
  Inc., Term Loan B, LIBOR + 2.75%, 7/15/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,613,704</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Prestige Brands
  Holdings, Inc., Term Loan B,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,970</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 2.25%,
  4/07/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,988,059</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 1.25%,
  4/07/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,092</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>975</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Propex Fabrics,
  Inc., Term Loan, LIBOR + 2.25%, 12/31/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>976,219</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>R.H. Donnelley,
  Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>601</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan A3, LIBOR
  + 1.75%, 6/30/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>606,557</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,124</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan D,
  LIBOR + 1.75%, 12/31/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,142,942</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,978</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Rite Aid Corp.,
  Term Loan, LIBOR + 1.75%, 9/15/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,989,907</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>998</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Spectrum Brands,
  Inc., Term Loan B, LIBOR + 2.00%, 1/31/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,007,892</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Travel Centers of
  America, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan, TBD,
  6/30/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>503,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan C,
  LIBOR + 1.75%, 11/30/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,007,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>United
  Subcontractors, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,980</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 3.25%, 4/21/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,980,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>490</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan C,
  LIBOR + 7.00%, 10/21/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>499,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>73,490,703</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>12</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="37%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="63%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock Global Floating Rate Income Trust (BGT) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>(000)</B></FONT></P>
  </TD>

  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="3" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Containers &amp; Packaging&#151;3.9%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>FlexSol Packaging
  Corp., Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>358</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 3.25%,
  11/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>357,464</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 7.00%,
  11/30/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>970,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 1.75%,
  11/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,583</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Graham Packaging
  Co., Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,468</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 2.50%, 10/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,552,386</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan C,
  LIBOR + 4.25%, 4/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,053,334</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,576</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Graphic Packaging
  Intl., Inc., Term Loan C, LIBOR + 2.50%, 8/08/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,627,120</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>998</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Smurfit Stone
  Container Corp., Term Loan B, LIBOR + 2.00%, 11/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,010,218</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,970</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Solo Cup Co.,
  Term Loan, LIBOR + 2.00%, 2/27/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,992,942</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>17,568,047</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Ecological Services &amp; Equipment&#151;1.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,957</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Allied Waste NA,
  Inc., Term Loan, LIBOR + 2.00%, 3/31/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,960,113</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,775</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Envirosolutions,
  Inc., Term Loan, LIBOR + 4.50%, 2/28/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,765,073</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,725,186</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Energy&#151;5.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>AES Corp., Term
  Loan, LIBOR + 1.75%, 4/30/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,511,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Belden &amp;
  Blake Corp., Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,231</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 2.75%,
  7/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,230,587</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 1.75%,
  7/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,456</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cellnet
  Technology, Inc., Term Loan B, LIBOR + 3.00%, 4/30/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>995,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>933</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cogentrix
  Delaware Holdings, Inc., Term Loan, LIBOR + 1.75%, 4/30/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>938,304</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Coleto Creek
  Power, Term Loan C1, LIBOR + 2.00%, 8/05/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>509,062</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,980</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dynegy Holdings,
  Inc., Term Loan, LIBOR, 5/10/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,987,920</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>El Paso Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan, LIBOR
  + 2.77%, 11/30/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>754,219</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,235</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 2.75%, 11/30/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,241,947</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Energy Transfer
  Co., Term Loan, TBD, 6/30/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>503,334</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Kerr-McGee Corp.,
  Loan Term B, LIBOR + 2.50%, 4/19/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,014,722</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>498</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Mainline LP, Term
  Loan, LIBOR + 2.38%, 12/31/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>498,194</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,485</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reliant Energy,
  Inc., Term Loan, LIBOR + 2.38%, 4/30/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,532,012</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Semgroup LP, Term
  Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,524</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 2.50%,
  2/28/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,541,120</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>700</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 1.00%,
  2/28/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>704,813</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,996</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Texas Genco LLC,
  Term Loan, LIBOR + 2.00%, 12/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,023,080</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Trout Coal
  Holdings LLC, Loan Term, LIBOR + 5.00%, 3/31/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>499,688</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>22,489,083</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Entertainment &amp; Leisure&#151;7.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Blockbuster
  Entertainment Corp., Term Loan B, LIBOR + 2.75%, 8/20/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>993,125</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,980</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Boyd Gaming
  Corp., Term Loan, LIBOR + 1.75%, 5/14/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,988,415</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Country Road,
  Term Loan, TBD, 6/30/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>505,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,900</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Greektown Casino,
  LLC, Term Loan D, LIBOR + 3.50%, 12/31/05</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,908,228</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Hollywood
  Theaters, Inc., Term Loan</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,737</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 3.25%,
  8/01/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,754,244</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 7.00%,
  1/21/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,518,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,993</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Kerasotes
  Theatres, Inc., Term Loan B, LIBOR + 2.75%, 12/31/07-11/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,033,647</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>4,924</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Loews Cineplex
  Entertainment Corp., Term Loan B, LIBOR + 2.25%, 8/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,935,293</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>998</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Marina District
  Finance Co., Inc., Term Loan B, LIBOR + 1.75%, 10/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,002,072</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>MGM Studios,
  Inc., Term Loan B, LIBOR + 2.25%, 4/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,014,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Penn National
  Gaming, Term Loan, LIBOR + 2.50%, 5/31/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,013,393</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>995</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Universal City
  Development Partners, Ltd., Term Loan, LIBOR + 2.00%, 6/30/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,003,291</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,244</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Venetian Casino
  Resorts LLC, Term Loan B, LIBOR + 1.75%, 6/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,254,915</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Wyndham Intl.,
  Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>86</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan, LIBOR
  + 3.25%, 5/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>86,422</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>914</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 3.25%, 5/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>917,448</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>417</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan C,
  LIBOR + 8.00%, 11/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>435,938</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>4,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Wynn Las Vegas
  LLC/Wynn Las Vegas Cap. Corp., Term Loan, LIBOR + 2.13%, 12/31/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,023,752</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>32,388,308</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>13</FONT></P>


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



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock Global Floating Rate Income Trust (BGT)
  (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>(000)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="3" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Financial
  Institutions&#151;2.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,608</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Global Cash Access, LLC, Term Loan, LIBOR + 2.75%,
  3/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,628,395</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,610</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Refco Finance Holdings, LLC, Term Loan B, LIBOR +
  2.00%, 7/30/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,613,623</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Titan Corp., Term Loan B,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,971</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 2.50%,
  4/24/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,987,287</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>6</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 1.25%,
  4/24/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,880</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>499</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>USI Holdings Corp., Term Loan B, LIBOR + 2.50%,
  7/30/08 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>499,666</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,880</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Visant Holding Corp., Term Loan C, LIBOR + 2.25%,
  10/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,931,732</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10,666,583</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Health
  Care&#151;10.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,545</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Accredo Health, Inc., Term Loan B, LIBOR + 1.75%,
  8/05/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,544,628</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,243</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Advanced Medical Optics, Term Loan B, LIBOR + 2.00%,
  6/30/07 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,255,102</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Arizant, Inc., Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,925</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 3.75%,
  8/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,939,719</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>25</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME, 8/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>25,094</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,418</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Community Health Systems, Inc., Term Loan, LIBOR +
  1.75%, 8/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,470,813</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,458</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Concentra Operating Corp., Term Loan, LIBOR + 2.50%,
  6/30/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,491,071</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Cooper Companies, Term Loan, LIBOR + 1.75%, 11/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>755,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Davita Corp., Inc., Term Loan, TBD, 6/30/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,012,188</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>HealthSouth Corp., Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>10.38%, 1/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,105,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 2.50%,
  3/31/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,516,407</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 5.00%,
  3/21/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,020,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,970</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>IASIS Healthcare Corp., Term Loan B, LIBOR + 2.25%,
  6/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,001,292</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,729</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Jean Coutu Group, Inc., Term Loan B, LIBOR + 2.25%,
  6/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,766,904</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>689</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Kinetic Concepts, Inc., Term Loan B2, LIBOR + 1.75%,
  8/05/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>695,174</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>516</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Medco Health Solutions, Term Loan A, LIBOR + 1.25%,
  3/13/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>516,671</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>995</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Pacificare Health Systems, Inc., Term Loan, LIBOR +
  1.50%, 12/15/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>997,694</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Select Medial Corp., Term Loan B,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>997</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 1.75%,
  2/28/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>997,619</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 0.75%,
  2/28/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>949</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,045</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>US Oncology, Inc., Term Loan, LIBOR + 2.75%, 6/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,081,514</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,088</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Vanguard Health Systems, Term Loan, LIBOR + 3.25%,
  9/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,117,508</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Warner Chilcott,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>529</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan, 1.38%,
  1/18/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>529,613</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,178</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 2.75%, 1/18/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,180,905</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>878</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan C,
  LIBOR + 2.75%, 1/18/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>878,798</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>406</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan D,
  LIBOR + 2.75%, 1/18/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>406,998</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>46,306,661</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Industrials&#151;1.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>540</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Alderwoods Group, Inc., Term Loan B2, LIBOR + 2.00%,
  9/29/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>546,350</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>411</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Hexcel Corp., Term Loan B, LIBOR + 1.75%, 2/28/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>414,194</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>935</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Novelis, Inc., Term B, LIBOR + 1.75%, 12/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>943,962</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Tinnerman Palnut Engineered Products, Inc., Term
  Loan, LIBOR + 7.25%, 11/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,900,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,844</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Worldspan, LP, Term Loan, LIBOR + 2.75%, 6/30/07</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,798,333</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,602,839</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Media&#151;17.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Alliance Atlantis Communications, Inc., Term Loan B,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,993</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 1.75%,
  11/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,013,670</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 0.75%,
  11/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,527</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>American Lawyers Media, Inc., Term Loan, LIBOR + 2.50%,
  3/15/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,750,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,985</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Bragg Communication, Term Loan B, LIBOR + 2.50%,
  9/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,004,850</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Bresnan Communications LLC, Term Loan B, LIBOR +
  3.50%, 9/30/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,011,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Century TCI California LP, Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 0.75%,
  12/31/07</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,984,376</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>10,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>TBD, 12/31/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9,878,570</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Charter Communications Operating, LLC,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,995</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan A,
  LIBOR + 3.00%, 4/27/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,952,178</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,985</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 3.25%, 4/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,970,821</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,661</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Dex Media East, LLC, Term Loan B, LIBOR + 1.75%,
  12/31/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,689,497</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>14</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP>
  <P><FONT COLOR="WHITE" SIZE="2"><B>BlackRock Global Floating Rate Income Trust (BGT)
(continued)</B> </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>(000)</B></FONT></P>
  </TD>

  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Media&#151;(cont&#146;d)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,749</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Dex Media West, LLC, Term Loan B, LIBOR + 1.75%,
  9/01/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,761,308</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>DirecTV Holdings, LLC, Term Loan B, LIBOR + 1.50%,
  3/06/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,005,834</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,990</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Emmis Operating Co., Term Loan B, LIBOR + 1.75%,
  5/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,004,372</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Insight Midwest Holdings, LLC,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>4,455</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan A,
  LIBOR + 1.50%, 6/30/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,451,076</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>995</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 2.75%, 1/06/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,004,166</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,474</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Media News, Term Loan C, LIBOR + 1.50%, 8/25/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,480,986</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Mediacom Communications Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,161</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan A,
  LIBOR + 1.25%, 3/31/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,135,759</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>995</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan C,
  LIBOR + 2.00%, 9/30/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000,804</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,993</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Mediacom Illinois LLC, Term Loan B, LIBOR + 2.25%,
  3/31/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,010,869</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,946</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Mission Broadcasting, Inc., Term Loan B, LIBOR +
  1.75%, 8/14/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,953,213</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>695</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>NEP Supershooters LP, Term Loan, LIBOR + 4.00%,
  2/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>705,171</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>487</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>New Skies Satellites, Term Loan B, LIBOR + 2.25%,
  4/12/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>492,962</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,054</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Nexstar Broadcasting, Inc., Term Loan, LIBOR + 1.75%,
  8/14/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,061,787</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>NTL Investment Holding Ltd., Term Loan B, LIBOR +
  3.00%, 4/13/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,014,585</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Raycom Media, Inc., Term Loan B, LIBOR + 1.75%,
  4/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,512,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>San Pascuale Band of Indians, Term Loan, LIBOR +
  2.50%, 8/31/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,250,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Transwestern Publishing Co., Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 2.25%,
  2/25/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,503,282</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>980</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 4.50%,
  2/25/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>988,514</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>UPC Distribution Corp., Term Loan, LIBOR + 2.75%,
  10/30/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>998,472</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,966</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Warner Music Group, Corp., Term Loan B, LIBOR +
  2.00%, 4/08/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,988,078</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,977</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Western Wireless Corp., Term Loan A, LIBOR + 2.25%,
  5/28/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,982,856</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Young Broadcasting, Inc., Term Loan, LIBOR + 2.25%,
  11/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>504,167</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>77,068,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Publishing&#151;0.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Endurance Business Media, Term Loan B, LIBOR + 2.75%,
  3/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>759,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Real
  Estate&#151;3.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Associated Materials, Inc., Term Loan, LIBOR + 2.25%,
  4/19/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,005,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>General Growth Properties,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan, TBD,
  11/12/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,524,231</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>984</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan A,
  LIBOR + 2.25%, 11/12/07</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>988,607</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,492</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Term Loan B,
  LIBOR + 2.25%, 11/12/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,516,328</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Headwaters, Inc., Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>333</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 5.50%,
  4/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>341,666</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,767</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PRIME + 1.25%,
  4/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,786,300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>913</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Lake Las Vegas Resort, Term Loan, LIBOR + 2.75%,
  10/13/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>922,068</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Macerich Partnership, L.P., Term Loan,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 1.50%,
  3/31/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>997,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>LIBOR + 1.60%,
  3/31/06</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>998,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Masonite Intl., Term Loan, TBD, 3/31/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>498,889</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>487</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Stewart Enterprises, Term Loan B, LIBOR + 1.75%,
  11/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>489,810</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>16,069,149</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Technology&#151;2.9%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,916</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Directed Electronics, Inc., Term Loan, LIBOR + 3.25%,
  3/15/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,944,733</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>499</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Federal IT Systems, Inc., Term Loan, LIBOR + 2.75%,
  4/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>501,867</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,751</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Knowles Electronics, Inc., Term Loan B2, LIBOR +
  5.00%, 6/29/07</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,762,912</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,483</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>UGS PLM, Term Loan B, LIBOR + 2.00%, 5/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,504,222</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,976</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Verifone, Inc., Term Loan B, LIBOR + 2.00%, 6/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,989,225</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,471</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Westcom Corp., Term Loan B, LIBOR + 2.75%, 12/31/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,477,987</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>13,180,946</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Telecommunications&#151;6.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Alaska Communications Systems Holdings, Term Loan,
  LIBOR + 2.00%, 1/31/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,006,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Atlantic Broadband Finance, LLC, Term Loan B1, LIBOR
  + 2.75%, 1/30/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,010,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,707</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Centennial Cellular Operating Co., Term Loan, LIBOR +
  2.25%, 2/09/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,771,445</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Fairpont Communications, Inc., Term Loan B, LIBOR +
  2.00%, 2/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,009,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Freedom Communications, Inc., Term Loan B, LIBOR +
  1.50%, 5/01/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,503,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>15</FONT></P>

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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="37%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="63%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD NOWRAP VALIGN=TOP BGCOLOR=BLACK>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock Global Floating Rate Income Trust (BGT) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal
  <BR>
  Amount <BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Telecommunications&#151;(cont&#146;d</B>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>998</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Intelsat Bermuda, Ltd., Loan Term, LIBOR + 1.75%,
  7/31/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,004,732</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Iowa Telecommunications Services, Inc., Term Loan B,
  LIBOR + 2.00%, 11/30/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,016,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>748</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Ntelos, Inc., Term Loan B, LIBOR + 2.50%, 2/24/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>745,319</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>PanAmSat Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT ><FONT SIZE=1>1,248</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>Term Loan, LIBOR + 2.50%, 8/20/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,258,882</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,985</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>Term Loan B1, LIBOR + 2.25%, 7/16/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,014,053</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Qwest Corp., Term Loan A, LIBOR + 4.75%, 6/30/07</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,059,062</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Satbirds Finance, Term Loan, LIBOR + 4.25%, 10/15/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,383,358</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,489</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Triton PCS, Inc., Term Loan, LIBOR + 3.25%, 11/15/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,494,361</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,960</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Valor Telecommunications, Term Loan B, LIBOR + 2.00%,
  2/28/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,982,360</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>29,259,822</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Transportation&#151;0.3</B><B>%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Sirva Worldwide, Inc., Term Loan B, LIBOR + 2.50%,
  12/31/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>466,666</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,033</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Transport Industries, LP, Term Loan B, LIBOR + 4.00%,
  6/14/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,036,888</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,503,554</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Total Bank Loans</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>455,661,777</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Foreign
  Government Bonds&#151;34.1</B><B>%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,790</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Argentina Republic, 3.01%, 8/03/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,332,555</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,261</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Bolivarian Republic of Venezuela, 4.563%, 12/18/07</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,243,344</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Federative Republic of Brazil,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,133</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>zero coupon, 4/15/14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,378,931</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>11,530</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>4.313%, 4/15/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>11,232,349</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9,435</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>9.23%, 9/29/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,944,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,840</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;&nbsp;&nbsp;&nbsp;Ser. B, 10.00%, 8/07/11,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,097,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Islamic Republic of Pakistan, 6.75%, 2/19/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,617,339</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,689</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Kingdom of Morocco, zero coupon, 1/05/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,617,776</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>A-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Malaysia, 8.75%, 6/01/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>924,952</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>900</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Philippines Republic, 8.875%, 4/15/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>978,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,071</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Republic of Bulgaria, 3.75%, 7/28/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,078,693</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Republic of Chile, 6.875%, 4/28/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,622,960</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,063</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Republic of Colombia, 9.75%, 4/09/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11,502,288</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Ba1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Republic of Costa Rica, 9.335%, 5/15/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,584,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Republic of El Salvador, 9.50%, 8/15/06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>845,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Republic of Panama,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>Ba1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>12,714</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>3.75%, 7/17/16</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>12,173,916</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>840</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>8.25%, 4/22/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>913,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Republic of Peru,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,544</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>5.00%, 3/07/17</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,239,080</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>9.125%, 1/15/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,640,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Republic of South Africa, 7.375%, 4/25/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,749,440</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Republic of the Philippines, 8.875%, 4/15/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,633,353</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Republic of Turkey, 12.00%, 12/15/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,880,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,428</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Republic of Venezuela, 4.313%, 3/07/17</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,408,733</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Russian Federation, 10.00%, 6/26/07</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,403,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Sberbank of Russia, 4.92%, 10/24/06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,021,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Ukraine,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,100</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>6.365%, 8/05/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,701,020</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>6.875%, 3/04/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,944,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>United Mexican States,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>2,4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>3.84%, 1/13/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,864,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>Baal</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>60,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>8.00%, 12/24/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,373,284</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Venezuela Republic,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>4.15%, 4/20/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,660,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>9.125%, 6/18/07</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,064,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P  STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>11.00%, 3/05/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,797,064</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Total Foreign Government Bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>154,469,127</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><B>Total Long-Term Investments (cost
  $698,112,789)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>704,572,626</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>16</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="37%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="63%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD NOWRAP VALIGN=TOP BGCOLOR=BLACK>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock Global Floating Rate Income Trust (BGT) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>
<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount <BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>SHORT-TERM INVESTMENTS&#151;2.3</B><B>% </B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>U.S. Government and Agency Zero Coupon Bonds&#151;1.0</B><B>%
</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal Home Loan
  Bank Discount Note, 7/01/05 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,500,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Foreign Government Bonds&#151;1.3</B><B>% </B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>German Treasury
  Bill, 2.027%, 7/13/05 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,050,161</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><B>Total
  Short-Term Investments (cost $11,183,111) </B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,550,161</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><B>Total
  investments&#151;157.8% (cost $709,295,900<SUP>5</SUP>)</B> </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>715,122,787</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Liabilities in
  excess of other assets&#151;(4.1)% </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(18,457,080</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Preferred shares
  at redemption value, including dividends payable&#151;(53.7)% </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(243,517,734</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><B>Net
  Assets&#151;100% </B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>453,147,973</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
<TR>
  <TD  VALIGN=BOTTOM colspan=11>
<HR NOSHADE size=1 WIDTH=120 COLOR=GRAY ALIGN=LEFT>
  </TD>
 </TR>

</TABLE>




<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="95%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Using the higher of
  S&amp;P&#146;s, Moody&#146;s or Fitch&#146;s rating.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Security interest rate is
  as of June 30, 2005.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Security is not registered
  under the Securities Act of 1933. These securities may be resold in
  transactions in accordance with Rule 144A under that act, to qualified
  institutional buyers. As of June 30, 2005, the Trust held 8.0% of its net
  assets, with a current market value of $36,399,129, in securities restricted
  as to resale. </FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Entire or partial principal
  amount pledged as collateral for reverse repurchase agreements. See Note 4 in
  the Notes to Financial Statements for details of open reverse repurchase
  agreements.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Cost for Federal income tax
  purposes is $709,405,069. The net unrealized appreciation on a tax basis is
  $5,717,718 consisting of $9,164,858 gross unrealized appreciation and
  $3,447,140 gross unrealized depreciation.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=1>A category in the Corporate
Bonds and Bank Loans sections may contain multiple industries as defined by the
SEC&#146;s Standard Industry Codes.</FONT></P>



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="30%">
 <TR style="font-size:1px" >
  <TD WIDTH="100%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM STYLE="BORDER-TOP: 1PX SOLID BLACK; BORDER-RIGHT: 1PX SOLID BLACK; BORDER-LEFT: 1PX SOLID BLACK">
  <P ALIGN=CENTER><FONT SIZE=1><B><BR>KEY TO ABBREVIATIONS</B></FONT></P>
  </TD>
 </TR>
 <TR style="font-size:1px">
  <TD  VALIGN=TOP STYLE="BORDER-RIGHT: 1PX SOLID BLACK; BORDER-LEFT: 1PX SOLID BLACK">
  <P >&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP STYLE="BORDER-BOTTOM: 1PX SOLID BLACK; BORDER-RIGHT: 1PX SOLID BLACK; BORDER-LEFT: 1PX SOLID BLACK">
  <P ALIGN=CENTER><FONT SIZE=1>EUR
  &#150; European Monetary Unit<BR><BR></FONT></P>
  </TD>
 </TR>
</TABLE>



<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>17</FONT></P>


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



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="50%" COLSPAN="2" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="50%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP nowrap>
  <P><FONT SIZE=3><B>PORTFOLIO OF INVESTMENTS (unaudited)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P><FONT SIZE=3><B>JUNE 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
  <TD  WIDTH="30%"VALIGN=BOTTOM BGCOLOR=BLACK nowrap>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock High Income Shares (HIS)</B></FONT></P>
  </TD>
  <TD  WIDTH="70%" VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 </TABLE>
<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%">
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%"  VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%"  VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%"  VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%"  VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%"  VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%"  VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%"  VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%"  VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%"  VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%"  VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%"  VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD valign=bottom>   <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4"  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD><HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4"  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6"><P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>LONG-TERM
  INVESTMENTS&#151;139.4%</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Corporate
  Bonds&#151;137.8%</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Aerospace
  &amp; Defense&#151;4.4%</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>AAR Corp., 6.88%,
  12/15/07</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>256,250</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>80</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Argo-Tech Corp.,
  9.25%, 6/01/11</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>86,900</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>80</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Armor Holdings,
  Inc., 8.25%, 8/15/13</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>86,200</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,750</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Availl, Inc.,
  7.63%, 7/01/11</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,846,250</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,940</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>BE Aerospace,
  Inc., 8.88%, 5/01/11</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,022,450</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Sequa Corp., Ser.
  B, 8.88%, 4/01/08</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,612,500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Titan Corp.,
  8.00%, 5/15/11</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>535,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>

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

  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,445,550</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Automotive&#151;3.5%</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>225</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>ArvinMeritor,
  Inc., 8.75%, 3/01/12</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>235,125</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>170</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cooper-Standard
  Automotive, Inc., 7.00%, 12/15/12</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>155,550</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Delco Remy Intl.,
  Inc.,</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.38%, 4/15/12</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>400,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>11.00%, 5/01/09</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>460,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>260</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Delphi Corp.,
  6.50%, 5/01/09</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>215,800</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>215</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dura Operating
  Corp., Ser. B, 8.63%, 4/15/12</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>194,575</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,750</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Goodyear Tire
  &amp; Rubber Co., 7.86%, 8/15/11 </FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,697,500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6" valign=top>   <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>880</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Metaldyne Corp.,
  10.00%, 11/01/13     </FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>717,200</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Stanadyne Corp.,
  10.00%, 8/15/14</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>187,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>800</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>TRW Automotive,
  Inc., 9.38%, 2/15/13   </FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>886,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,148,750</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Basic Materials&#151;16.9%</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>510</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Abitibi-Consolidated,
  Inc., 8.38%, 4/01/15 (Canada)</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>520,837</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6" valign=bottom>   <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,200</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-top:-5PX"><SUP><FONT SIZE=1>2</FONT></SUP></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Alpha Natural
  Resources LLC/Alpha Natural Resources Capital Corp., 10.00%, 6/01/12</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,320,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,030</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Caraustar
  Industries, Inc., 9.88%, 4/01/11</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,050,300</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,010</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Del Monte Corp.,
  8.63%, 12/15/12</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,111,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>390</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Donohue Forest
  Products, 7.63%, 5/15/07 (Canada)</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>395,850</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Equistar
  Chemicals LP/Equistar Funding Corp.,</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,780</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>10.13%, 9/01/08</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,009,350</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,250</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>10.63%, 5/01/11</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,387,500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Georgia-Pacific
  Corp., 8.00%, 1/15/14-1/15/24 </FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,258,750</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6" valign=bottom>   <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Huntsman Intl.
  LLC, 7.38%, 1/01/15</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>493,750</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,450</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Huntsman LLC,
  11.63%, 10/15/10</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,700,125</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>IMC Global, Inc.,
  Ser. B, 10.88%, 6/01/08</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>224,750</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD valign=bottom>   <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,670</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Innophos, Inc.,
  8.88%, 8/15/14</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,703,400</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>165</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ispat Inland ULC,
  9.75%, 4/01/14 (Canada) </FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>191,813</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Jacuzzi Brands,
  Inc., 9.63%, 7/01/10</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>542,500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>790</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Lyondell Chemical
  Co., 10.50%, 6/01/13</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>904,550</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>715</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Nalco Co., 8.88%,
  11/15/13</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>765,050</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>225</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Norske Skog Ltd.,
  7.38%, 3/01/14 (Canada) </FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>220,500</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>485</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PQ Corp., 7.50%,
  2/15/13</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>476,513</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Resolution
  Performance Products, Inc., 13.50%, 11/15/10</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,075,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Rhodia SA
  (France)</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,915</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.88%, 6/01/11</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,838,400</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>175</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>10.25%, 6/01/10</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>187,687</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,730</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Trimas Corp.,
  9.88%, 6/15/12</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,293,200</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>24,670,825</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Building &amp; Development&#151;3.8%</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD valign=bottom>   <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>540</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Compression
  Polymers Corp., 10.50%, 7/01/13 .</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>549,450</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6" valign=bottom>   <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Goodman Global
  Holding Co., Inc., 7.88%, 12/15/12</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,775,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>Ba2</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>K Hovnanian
  Enterprises, Inc., 7.75%, 5/15/13 </FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,040,000</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD BGCOLOR="#E6E6E6">   <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,375</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Nortek, Inc.,
  8.50%, 9/01/14</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,271,875</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,636,325</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P ALIGN=CENTER><FONT  SIZE=2>18</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
  <TD WIDTH="37%" VALIGN=BOTTOM BGCOLOR=BLACK nowrap>
  <P><B><font size=2 color=white>BlackRock
  High Income Shares (HIS) (continued)</font></B></P>
  </TD>
  <TD WIDTH="63%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH=10% VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=1% VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH=5% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=55% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=3% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=1% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=12% VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH=1% VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD valign=bottom>   <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Conglomerates&#151;0.9%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>JSG Funding PLC,
  9.63%, 10/01/12 (Ireland)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,293,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Consumer Products&#151;11.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>CCC</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>140</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ames True Temper,
  Inc., 10.00%, 7/15/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>113,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>880</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Celestica, Inc.,
  7.63%, 7/01/13 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>884,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>550</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cenveo Corp.,
  9.63%, 3/15/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>596,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>650</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Elizabeth Arden,
  Inc., 7.75%, 1/15/14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>677,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,035</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Finlay Fine
  Jewelry Corp., 8.38%, 6/01/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>921,150</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>486</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>FTD, Inc., 7.75%,
  2/15/14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>473,850</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>678</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Gold Kist, Inc.,
  10.25%, 3/15/14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>772,920</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Jarden Corp.,
  9.75%, 5/01/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>526,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Johnsondiversey
  Holdings, Inc., zero coupon, 5/15/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>711,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,425</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Lazydays RV
  Center, Inc., 11.75%, 5/15/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,528,062</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>810</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Levi Strauss
  &amp; Co., 7.73%, 4/01/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>767,475</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,640</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Movie Gallery,
  Inc., 11.00%, 5/01/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,722,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-BOTTOM:-5PX" ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>NewPage Corp.,
  10.00%, 5/01/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,007,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Playtex Products,
  Inc., 8.00%, 3/01/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>534,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Rite Aid Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>4.75%, 12/01/06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>738,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>


 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>715</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.13%, 12/15/18 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>675,675</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.13%, 5/01/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>257,188</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Saks, Inc.,
  7.38%, 2/15/19</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Simmons Bedding
  Co., 7.88%, 1/15/14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>215,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Swift &amp; Co.,
  12.50%, 1/01/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>558,125</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>16,682,370</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Containers &amp; Packaging&#151;6.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,425</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Crown Cork &amp;
  Seal, Inc., 8.00%, 4/15/23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,382,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,430</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Crown European
  Holdings SA, 9.50%, 3/01/11 (France)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,583,725</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Graphic Packaging
  Intl., Inc., 9.50%, 8/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,010,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Jefferson Smurfit
  Corp., 7.50%, 6/01/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>955,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Owens Brockway,
  8.25%, 5/15/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,821,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Owens Illinois,
  Inc., 7.35%, 5/15/08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>259,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Stone-Container
  Corp. Enterprises, Inc., 9.75%, 2/01/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,057,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9,068,850</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Ecological Services &amp; Equipment&#151;1.6%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Allied Waste NA,
  Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.50%, 12/01/08 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>842,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.88%, 4/01/08 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,045,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Casella Waste
  Systems, Inc., 9.75%, 2/01/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>432,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,319,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD>   <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD   VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD   VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Energy&#151;18.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>AES Corp., 9.50%,
  6/01/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>278,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>960</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Calpine Energy
  Finance ULC, 8.50%, 5/01/08 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>686,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>680</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Calpine
  Generating Co. LLC, 11.50%, 4/01/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>608,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Chesapeake Energy
  Corp., 7.75%, 1/15/15</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>810,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>CMS Energy Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>80</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.50%,
  1/15/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>84,300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>240</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.88%, 10/15/07 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>262,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>390</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Compagnie
  Generale de Geophysique SA, 7.50%, 5/15/15 (France)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>403,650</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dynegy Holdings,
  Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>180</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.88%, 7/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>198,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>


 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>10.13%, 7/15/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>452,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>El Paso CGP Co.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.75%, 6/15/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,021,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.63%,
  5/15/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,587,187</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>El Paso
  Production Holding Co., 7.75%, 6/01/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>534,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Exco Resources,
  Inc., 7.25%, 1/15/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,584,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>285</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Hilcorp Energy I
  LP/Hilcorp Finance Corp., 10.50%, 9/01/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>314,925</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>760</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-top:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>KCS Energy, Inc.,
  7.13%, 4/01/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>772,650</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Midwest
  Generation LLC,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.56%, 1/02/16 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>276,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>455</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.75%, 5/01/34 </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>509,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>19</FONT></P>


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




<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="37%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="63%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock High Income Shares (HIS) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>(000)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Energy&#151;(cont&#146;d)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,680</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Mission Energy Holdings Co., 13.50%, 7/15/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,995,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>330</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>North American
  Energy Partners, Inc., 9.00%, 5/15/10 (Canada) </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>333,300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>240</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Ocean Rig AS, 8.38%, 7/01/13 (Norway) </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>243,600</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Orion Power Holdings, Inc., 12.00%, 5/01/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,395,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>25</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Range Resources Corp., 6.38%, 3/15/15 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>24,875</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Reliant Energy, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>555</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.75%, 12/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>543,900</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>245</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.25%, 7/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>265,213</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,475</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Roseton/Danskammer, Ser.A, 7.27%, 11/08/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,467,625</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Tennessee Gas Pipeline Co., 7.50%, 4/01/17 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,090,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Ba2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>60</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Transcontinental
  Gas Pipe Line Corp., 7.25%, 12/01/26 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>65,400</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>TXU Corp., 6.55%, 11/15/34 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>195,071</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Ba3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Universal Compression, Inc., 7.25%, 5/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,090,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>835</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Utilicorp Finance Corp., 7.75%, 6/15/11 (Canada) </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>860,050</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>700</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Whiting Petroleum Corp., 7.25%, 5/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>717,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,550</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Williams Cos., Inc., 8.13%, 3/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,759,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>26,430,521</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Entertainment
  &amp; Leisure&#151;5.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Boyd Gaming Corp., 7.75%, 12/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,068,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Caesars Entertainment, Inc., 7.88%, 3/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>560,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Felcor Lodging LP, 7.78%, 6/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>257,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Gaylord Entertainment Co.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>450</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.75%, 11/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>436,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.00%, 11/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,051,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>75</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Hammons John Q. Hotels LP, Ser. B, 8.88%, 5/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>82,125</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>650</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Inn of the
  Mountain Gods Resort &amp; Casino, 12.00%, 11/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>450</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>K2, Inc., 7.38%, 7/01/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>472,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>720</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Poster Financial Group, Inc., 8.75%, 12/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>732,600</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>705</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Riddell Bell Holdings, Inc., 8.38%, 10/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>715,575</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Royal Caribbean Cruises Ltd., 6.88%, 12/01/13
  (Liberia) </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>532,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Wynn Las Vegas
  LLC/Wynn Las Vegas Capital Corp., 6.63%, 12/01/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>970,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>7,630,050</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Financial
  Institutions&#151;11.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,640</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>BCP Crystal US Holdings Corp., 9.63%, 6/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,836,800</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Borden US Finance
  Corp./Nova Scotia Finance ULC, 9.00%, 7/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>203,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Crum &amp; Forster Holdings Corp., 10.38%, 6/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>217,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Fairfax Financial Holdings Ltd., 7.75%, 4/26/12
  (Canada) </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,187,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Ford Motor Credit Co.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,440</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>5.70%, 1/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,270,030</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>450</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.25%, 10/25/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>435,564</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,945</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>K&amp;F Acquisition, Inc., 7.75%, 11/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,979,037</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>KRATON Polymers
  LLC/KRATON Polymers Cap. Corp., 8.13%, 1/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>240,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,955</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Rainbow National Services LLC, 10.38%, 9/01/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,398,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,055</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Standard Aero Holdings, Inc., 8.25%, 9/01/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,107,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>610</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>UGS Corp., 10.00%, 6/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>683,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>110</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Universal City Florida Holding Co. I/II, 7.96%,
  5/01/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>114,400</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Visant Corp., 7.63%, 10/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,468,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>110</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Western Financial Bank, 9.63%, 5/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>119,350</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>16,260,631</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Health
  Care&#151;5.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>50</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Curative Health Services, Inc., 10.75%, 5/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>38,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Fisher Scientific Intl, Inc., 3.25%, 3/01/24 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>517,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Genesis Healthcare Corp., 8.00%, 10/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>541,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>105</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Insight Health Services Corp., Ser. B, 9.88%,
  11/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>82,425</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Ba3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>315</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>NeighborCare, Inc., 6.88%, 11/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>334,294</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>900</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Norcross Safety
  Products LLC/Norcross Capital Corp., 9.88%, 8/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>940,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Tenet Healthcare Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>180</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.38%, 12/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>171,900</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>180</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.88%, 7/01/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>193,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>990</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Universal Hospital Services, Inc., 10.13%, 11/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,012,275</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Vanguard Health Holding Co. II LLC, 9.00%, 10/01/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,353,125</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>20</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="37%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="63%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock High Income Shares (HIS) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>(000)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Health
  Care&#151;(cont&#146;d)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>VWR Intl, Inc.,
  8.00%, 4/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,428,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>600</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>WH Hldgs Ltd./WH
  Capital Corp., 9.50%, 4/01/11 (Cayman Islands) </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>642,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></p>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,255,519</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Industrials&#151;11.6%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Blount, Inc., 8.88%, 8/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,070,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>565</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Cenveo Corp., 7.88%, 12/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>540,988</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,975</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>DI Finance/DynCorp. Intl., 9.50%, 2/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,751,875</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>ERICO Intl. Corp., 8.88%, 3/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,030,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,764</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3,4,5,6</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Goss Graphics Systems, 12.25%, 11/19/05 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>H&amp;E Equipment
  Services LLC/H&amp;E Finance Corp., 11.13%, 6/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,102,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Knowledge Learning Corp., Inc., 7.75%, 2/01/15 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,421,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>NationsRent Cos., Inc., 9.50%, 5/01/15 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>985,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Rental-A-Center, Inc., 7.50%, 5/01/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,250,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,387</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Service Corp. Intl., 7.70%, 4/15/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,484,090</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,170</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Sunstate
  Equipment Co. LLC, 10.50%, 4/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,199,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>United Rentals NA, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.00%, 2/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,050,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.75%, 11/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,078,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>16,963,453</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Media&#151;21.7%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>575</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Allbritton
  Communications Co., 7.75%, 12/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>566,375</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>American Media Operations, Inc., 10.25%, 5/01/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>501,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,600</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Argosy Gaming Co., 7.00%, 1/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,762,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Cablecom SCA, 4.90%, 4/15/12 (Luxembourg) (EUR) </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,498,427</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Charter
  Communciations Operating/Charter Communications Operating Capital, 8.38%,
  4/30/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>497,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,390</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Charter
  Communications Holdings II, LLC/Charter Communications Holdings II Capital
  Corp., 10.25%, 9/15/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,432,375</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Charter
  Communications Holdings LLC/Charter Communications Holdings Capital Corp.,
  11.13%, 1/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>937,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>550</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Corus
  Entertainment, Inc., 8.75%, 3/01/12 (Canada) </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>589,875</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>CSC Holdings, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>600</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.88%, 2/15/18 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>588,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,550</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>10.50%, 5/15/16 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,741,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dex Media East
  LLC/Dex Media East Finance Co.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.88%, 11/15/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>551,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>600</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>12.13%, 11/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>718,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>488</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dex Media West
  LLC/Dex Media Finance Co., 9.88%, 8/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>558,760</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Dex Media, Inc., 8.00%, 11/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>806,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Echostar
  Communications Corp., 5.75%, 5/15/08 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>992,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>365</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Echostar DBS Corp., 6.35%, 10/01/08 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>373,213</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>General Cable Corp., 9.50%, 11/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>266,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>410</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Houghton Mifflin Co., 9.88%, 2/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>440,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Nebraska Book Co., Inc., 8.63%, 3/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,119,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,150</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Nexstar Finance, Inc., 7.00%, 1/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,998,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Primedia, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>323</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.63%, 4/01/08 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>326,634</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>600</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.64%, 5/15/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>633,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,310</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.88%, 5/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,375,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,035</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Quebecor Media, Inc., 11.13%, 7/15/11 (Canada) </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,148,850</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>630</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Seneca Gaming Corp., 7.25%, 5/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>651,262</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Sinclair Broadcast Group, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,150</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.00%, 3/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,203,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>450</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.75%, 12/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>472,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Vertis, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>CCC</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,710</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>10.88%, 6/15/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,624,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Caa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>13.50%, 12/07/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>551,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>95</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>WMG Hldgs. Corp., 9.50%, 12/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>65,550</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>CCC</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>300</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>WRC Media,
  Inc./Weekly Reader Corp./JLC Learning Corp., 12.75%, 11/15/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>317,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>CCC</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,510</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Young Broadcasting, Inc., 10.00%, 3/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,438,275</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>31,747,346</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>21</FONT></P>


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



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
<TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP width="25%">
  <P STYLE='MARGIN-RIGHT:5PT; MARGIN-LEFT:5PT;'><FONT SIZE=2 color=white><B>BlackRock
  High Income Shares (HIS) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP width="75%">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>



<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" COLOR=BLACK NOSHADE  ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Technology&#151;1.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Hynix
  Semiconductor, Inc., 9.88%, 7/01/12 (South Korea)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>198,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,060</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Lucent Technologies,
  Inc., 6.45%, 3/15/29 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>948,700</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>MagnaChip
  Semiconductor SA/MagnaChip Semiconductor Finance Co. (Luxembourg)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Ba3</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>60</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.66%, 12/15/11</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>59,700</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom>
  <P ALIGN=CENTER><FONT SIZE=1>Ba3</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.88%, 12/15/11</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>492,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>385</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Superior Essex
  Communications LLC/Essex Group, Inc., 9.00%, 4/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>383,075</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Ba2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Xerox Corp.,
  7.63%, 6/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>538,125</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,620,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Telecommunications&#151;12.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Airgate PCS,
  Inc., 6.89%, 10/15/11</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>766,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>American Tower
  Corp., 7.13%, 10/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,057,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,085</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cincinnati Bell,
  Inc., 7.25%, 7/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,194,463</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>170</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Hawaiian Telcom
  Communications, Inc., 8.91%, 5/01/13</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>174,675</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Insight Midwest
  LP/Insight Capital, 10.50%, 11/01/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>530,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Intelsat Ltd.
  (Bermuda)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>595</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.81%, 1/15/12</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>605,413</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>1,235</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.63%, 1/15/15</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,299,837</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Lucent
  Technologies, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>550</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>5.50%, 11/15/08</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>548,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,050</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.50%, 1/15/28</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,829,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,072</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PanAmSat Corp.,
  9.00%, 8/15/14</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,168,480</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>3,4,5,6</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Poland Telecom
  Finance BV, 14.00%, 12/01/07 (Netherlands)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>230</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Qwest Capital
  Funding, Inc., 7.00%, 8/03/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>223,100</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Qwest Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.67%, 6/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,033,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,190</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.13%, 3/15/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,461,150</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>535</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Qwest Services
  Corp., 13.50%, 12/15/10</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>617,925</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>350</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Rogers Wireless
  Communications, Inc., 8.00%, 12/15/12 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>376,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Rural Cellular
  Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.25%, 3/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,045,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>CCC</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>560</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.88%, 2/01/10</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>578,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>17,510,868</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Transportation&#151;2.6%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>755</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>CHC Helicopter
  Corp., 7.38%, 5/01/14 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>753,112</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>General Maritime
  Corp., 10.00%, 3/15/13 (Marshall Island)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>216,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,050</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Horizon Lines
  LLC, 9.00%, 11/01/12</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,137,125</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>660</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Overseas
  Shipholding Group, Inc., 8.25%, 3/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>689,700</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,796,437</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Corporate
  Bonds</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>201,480,595</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Shares</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Common Stock&#151;0.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>64</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1><SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Goss Holdings
  Inc.</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Crown Castle
  Intl. Corp.</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10,058</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Common
  Stock </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,059</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Preferred Securities&#151;1.6%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Consumer Products&#151;0.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>30</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Smurfit-Stone
  Container Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>695,100</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Containers &amp; Packaging&#151;0.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Owens Illinois,
  Inc.</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>202,600</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Energy&#151;0.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>NRG Energy, Inc.,</FONT></P>
  </TD>
  <TD  VALIGN=bottom BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>547,938</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Media&#151;0.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Emmis
  Communications Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>430,848</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Telecommunications&#151;0.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Crown Castle
  International Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>484,650</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Preferred
  Securities</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,361,136</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>22</FONT></P>


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

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
<TD  VALIGN=TOP BGCOLOR=BLACK NOWRAP width="25%">
  <P STYLE='MARGIN-RIGHT:5PT; MARGIN-LEFT:5PT;'><FONT SIZE=2 color=white><B>BlackRock
  High Income Shares (HIS) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP width="75%">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE  ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" COLOR=BLACK NOSHADE  ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Warrants&#151;0.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=bottom>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P ALIGN=RIGHT><FONT SIZE=1>4</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1><SUP>2,5,6</SUP></FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>Pliant Corp., expires 6/01/10</FONT></P>
  </TD>
  <TD  VALIGN=bottom>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><B>Total Long-Term Investments (cost
  $210,502,012)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>203,851,790</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>SHORT-TERM
  INVESTMENTS&#151;4.7%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>U.S.
  Government and Agency Zero Coupon Bonds&#151;4.7%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>6,900</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Federal Home Loan Bank Discount Note, 2.65%, 7/1/05
  (cost $6,900,000) </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,900,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><B>Total investments&#151;144.1% (cost
  $217,402,012<SUP>7</SUP>)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>210,751,790</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Liabilities in excess of other assets&#151;(44.1)%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(64,512,933</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><B>Net Assets&#151;100%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>146,238,857</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P><HR NOSHADE WIDTH=120 SIZE=1 COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Using the higher of
  S&amp;P&#146;s, Moody&#146;s or Fitch&#146;s rating.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Security is not registered
  under the Securities Act of 1933. These securities may be resold in
  transactions in accordance with Rule 144A under that Act, to qualified
  institutional buyers. As of June 30, 2005, the Trust held 28.1% of its net
  assets, with a current market value of $41,157,321 in securities restricted
  as to resale.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Security interest rate is
  as of June 30, 2005.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Issuer is technically in
  default and/or bankruptcy.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Security is fair valued.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>6</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Illiquid security.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>7</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Cost for Federal income tax
  purposes is $217,445,531. The net unrealized depreciation on a tax basis is
  $6,703,741 consisting of $5,563,400 gross unrealized appreciation and
  $12,267,141 gross unrealized depreciation.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A
  category in the Corporate Bonds section may contain multiple industries as
  defined by the SEC&#146;s Standard Industry Codes.</FONT></P>
  </TD>
 </TR>
</TABLE>
<BR>
<CENTER>
<DIV ALIGN=CENTER STYLE="BORDER:1PX SOLID #000000 ;WIDTH:30%;PADDING:5PX">
<P ALIGN=CENTER><FONT  SIZE=1><BR><B>KEY TO ABBREVIATIONS</B>
<BR><BR>
EUR &#150; European Monetary Unit<BR><BR></FONT></P>
</DIV>
</CENTER>
<P ALIGN=CENTER><FONT  SIZE=2>23</FONT></P>


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





<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="100%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>PORTFOLIO OF INVESTMENTS
  (unaudited)</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>JUNE 30, 2005</B></FONT></P>
  </TD>
 </TR>

</TABLE>


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
  <TD  VALIGN=TOP  BGCOLOR=BLACK WIDTH="30%" NOWRAP>
  <P><FONT SIZE=2 COLOR=WHITE><b>BlackRock Preferred Opportunity Trust (BPP)</b></FONT></P>
  </TD>
  <TD  VALIGN=TOP WIDTH="70%">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Shares</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>LONG-TERM
INVESTMENTS&#151;148.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Preferred
Securities&#151;67.7%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Consumer Products&#151;0.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>20,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dairy Farmers of
  America, Inc., 7.875%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,091,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Energy&#151;2.9%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Devon Energy
  Corp., Ser. A, 6.49%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>506,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>115,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Hanover
  Compressor Cap. Trust, 7.25%, expires 12/14/29, price $17.875, 2.7972 shares</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,492,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Baa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>275,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Nexen, Inc.,
  7.35% (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,251,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P >&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>13,250,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Financial
  Institutions&#151;49.7%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Aa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>600</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>ABN Amro NA, Inc., 6.46%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>583,020</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>300,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>ACE Ltd., Ser. C,
  7.80% (United Kingdom)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,081,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>433,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Banco Santander
  Central Hispano SA, Ser. 1, 6.41% (Spain)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10,969,124</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>30,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Banesto Hldgs.
  Ltd., Ser. A, 10.50% (Bailiwick of Guernsey)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>945,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>100,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Bear Stearns Co.,
  Inc., Ser. E, 6.15%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,130,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>60,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Chevy Chase
  Preferred Cap. Corp., Ser. A, 10.375%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,489,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>23,600</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Citigroup Cap. I,
  6.75% (CORTS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>611,476</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>AA</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>40,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Citigroup Cap. X, 6.10%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,008,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>AA</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>50,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Citigroup Cap. XI, 6.00%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,256,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>80,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Colonial Cap. Trust IV, 7.875%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,076,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Credit Suisse
  First Boston, Inc. (SATURNS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>11,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.25%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>279,609</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>12,300</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.00%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>322,106</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>137,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Everest Re Cap.
  Trust, 7.85% (Barbados)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,682,429</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>30,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Everest Re Cap.
  Trust II, Ser. B, 6.20%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>708,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Federal Home Loan
  Mortgage Corp.</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>AA-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>221,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. F, 5.00%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>9,420,990</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>AA-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>102,958</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. H, 5.10%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,478,673</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>AA</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>15,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Financial
  Security Assurance Holdings Ltd., 5.60%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>376,960</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>First Republic
  Bank,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>185,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.25%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,538,050</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>277,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.70%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,224,525</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>120,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>First Republic
  Preferred Cap. Corp., 7.25%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,036,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>85,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Fleet Cap. Trust
  VII, 7.20%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,188,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>26,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Fleet Cap. Trust VIII, 7.20%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>677,556</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Goldman Sachs
  Group, Inc., The,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>20,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>5.625% (SATURNS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>469,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>42,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>5.80% (CORTS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,047,060</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>102,900</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.00% (SATURNS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,546,775</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>ING Groep NV
  (Netherlands)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>76,700</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.05%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,008,581</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>560,337</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.20%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>14,764,880</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>80,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>JP Morgan Chase
  Cap. XII, 6.25%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,030,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>150,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>JP Morgan Chase
  Cap. XIV, 6.20%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,774,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>117,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>KeyCorp Cap. V, 5.875%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,900,700</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>263,400</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Lehman Brothers
  Holdings Cap. Trust III, Ser. K, 6.375%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,659,094</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>90,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Lehman Brothers
  Holdings Cap. Trust IV, Ser. L, 6.375%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,286,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>146,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Lehman Brothers
  Holdings Cap. Trust V, Ser. M, 6.00%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,627,340</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>31,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Lehman Brothers
  Holdings, Inc., Ser. D, 5.67%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,568,606</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>20,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Merrill Lynch
  Preferred Cap. Trust III, 7.00%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>522,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>86,900</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Merrill Lynch
  Preferred Cap. Trust V, 7.28%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,315,016</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>525,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>MetLife, Inc.,
  Ser. B, 6.5%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>13,219,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>337,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Morgan Stanley
  Cap. Trust III, 6.25%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,482,290</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>7,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>News Corp. Ltd.,
  The, Ser. 9, Class 1, 8.125% (CORTS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>187,848</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>209,400</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Partnerre Ltd.,
  Ser. C, 6.75% (Bermuda)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,352,788</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>79,385</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Phoenix Cos.
  Inc., The, 7.45%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,040,195</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>18,400</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>PLC Cap. Trust
  IV, 7.25%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>485,300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>A-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>409,975</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Principal
  Financial Group, 6.518%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,249,375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Renaissancere
  Holdings Ltd. (Bermuda)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>271,725</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. B, 7.30%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,192,235</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>240,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. C, 6.08%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,719,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>30</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Roslyn Real
  Estate Asset Corp., Ser. C, 8.95%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,037,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>AA-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>375,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Royal Bank of
  Scotland Group PLC, ADR, 6.35%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>9,450,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>24</FONT></P>


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

<BR>
<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="30%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="70%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  BGCOLOR=BLACK NOWRAP>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock Preferred Opportunity Trust (BPP)
  (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">

 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Shares</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Financial
  Institutions&#151;(cont&#146;d)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Safeco Cap. Trust I,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.072% (CORTS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>110,864</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>23,600</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.25% (SATURNS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>622,551</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.375% (CORTS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>54,480</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>14,700</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.70% (CORTS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>394,107</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>35,700</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.75% (CORTS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,056,945</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>SLM Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>100,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>4.07%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. A, 6.97%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>287,813</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>51,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Sprint Corp., Ser. 17, Class A1, 7.00% (CORTS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,259,434</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>103,439</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Structured Repackaged Asset-Backed Trust Securities,
  6.50%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,529,084</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR >
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>60</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Union Planters Preferred Funding Corp., 7.75%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>7,056,720</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>55,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>USB Capital IV, 7.35%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,433,438</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>11,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Valero Energy Corp., 7.25% (PPLUS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>288,156</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>504,400</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Wachovia Preferred Funding Corp., Ser. A, 7.25%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>14,485,763</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Washington Mutual Cap. I, 7.65% (CORTS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>133,738</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>13,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>XL Cap. Ltd., Ser. A, 8.00% (Cayman Islands)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>358,173</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>143,865</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Zions Cap. Trust, 8.00%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,879,866</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Zurich Regcaps Funding Trust, 6.58%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,125,820</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>229,096,253</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Real
  Estate&#151;14.6%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>AMB Property Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>80,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. L, 6.50%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,012,504</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>170,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. M, 6.75%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,345,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>BRE Properties,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>225,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. C, 6.75%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,604,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>80,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. D, 6.75%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,995,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>78,888</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>CarrAmerica Realty Corp., Ser. E, 7.50%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,040,830</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Developers Diversified Realty Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>120,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.375%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,048,756</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>15,900</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.50%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>407,040</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Duke Realty Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>90,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. J, 6.625%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,296,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>160,800</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. K, 6.50%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,055,183</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Equity Residential,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>19,800</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. B, 9.125%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>500,544</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>120,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ser. N, 6.48%,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,001,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>322,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Kimco Realty Corp., Ser. F, 6.65%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,251,250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>255,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>NB Cap. Corp., 8.35%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,984,824</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>324,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Regency Centers Corp., 7.45%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,312,641</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>30</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
<P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Sun Trust Real Estate Investment Corp., 9.00%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,679,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>100,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Taubman Centers, Inc., Ser. H, 7.625%</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,512,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>320,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Weingarten Realty Investors, Ser. D, 6.75%</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,323,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>67,371,722</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Total Preferred Securities</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>311,809,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Trust
  Preferred Securities&#151;44.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Energy&#151;1.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>HL&amp;P Cap. Trust II, Ser. B, 8.257%, 2/01/37</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,060,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Baa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>4,655</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>K N Cap. Trust III, 7.63%, 4/15/28</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,448,678</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,508,678</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Financial
  Institutions&#151;39.9%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Abbey National Cap. Trust I, 8.963%, 6/30/30</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,646,213</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Ba2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>6,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>AFC Cap. Trust I, Ser. B, 8.207%, 2/03/27</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,366,983</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2,4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>AgFirst Farm Credit Bank, 7.30%, 10/14/49</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,349,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>AON Corp., 8.205%, 1/01/27</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,511,065</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Astoria Cap. Trust 1, Ser. B, 9.75%, 11/01/29</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,122,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>9,774</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>AXA SA, 7.10%, 5/29/49 (France)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,186,033</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,557</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>BNP Paribas Cap. Trust V, zero coupon, 12/31/49</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,709,951</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>California Preferred Funding Trust, 7.00%, 1/30/49</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,720,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>CBA Cap. Trust I, 5.805%, 12/31/49</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,446,640</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>25</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5% WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="30%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="70%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP bgcolor="#000000" nowrap>
  <P><FONT SIZE=2 color=white><B>BlackRock Preferred Opportunity Trust (BPP) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>
<BR>




<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="7%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="53%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P align=center><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=2><B>Financial
  Institutions&#151;(cont&#146;d)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Colonial Cap. Trust II, Ser. A, 8.92%, 1/15/27 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,198,219</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Credit Agricole
  Preferred Fund Trust II, 7.00%, 8/29/49 (Luxembourg)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,120,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>10,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Danske Bank A/S,
  5.914%, 12/31/49 (Denmark)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,716,600</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>A</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Deutsche Bank
  Cap. Funding, 7.872%, 12/29/49</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,031,990</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>8,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dresdner Funding
  Trust I, 8.151%, 6/30/31</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,257,920</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>Baa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>FCB/NC Cap. Trust
  I, 8.05%, 3/01/28</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,211,045</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Greenpoint Cap.
  Trust I, 9.10%, 6/01/27</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,557,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>HBOS Cap. Funding
  LP,</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>10,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.071%, 12/31/49
  (United Kingdom)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,787,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.85%, 3/29/49
  (United Kingdom)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,137,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>AA-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>10,835</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>HSBC Cap. Funding
  LP, 9.55%, 12/31/49 (Bailiwick of Jersey)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>13,174,168</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,400</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>HUBCO Cap. Trust
  I, Ser. B, 8.98%, 2/01/27 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,546,916</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>HUBCO Cap. Trust
  II, Ser. B, 7.65%, 6/15/28</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,128,623</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>JPM Cap. Trust
  II, 7.95%, 2/01/27</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,086,388</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>156</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>JPM Chase Capital
  IX, zero coupon, 6/01/35</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,907,800</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>10,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Mangrove Bay
  Pass-Through Trust, 6.102%, 7/15/33 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>10,275,300</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,145</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Markel Cap. Trust
  I, Ser. B, 8.71%, 1/01/46</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,406,695</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>1</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Morgan Stanley,
  zero coupon (PPLUS)</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>33,597</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>NBP Capital Trust
  III, 7.375%, 10/29/49</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,130,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>A3</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>North Fork Cap.
  Trust II, 8.00%, 12/15/27</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,295,020</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Old Mutual Cap. Funding, 8.00%, 5/29/49</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,292,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Provident Financing Trust I, 7.405%, 3/15/38</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,916,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A1</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>RBS Cap. Trust, 6.80%, 12/31/49 (United Kingdom)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,096,530</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>A+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,600</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>State Street
  Institutional Cap., Ser. A, 7.94%, 12/30/26</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,981,156</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>7,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Sun Life of
  Canada US Cap. Trust I, 8.526%, 5/29/49 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,256,900</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Webster Cap.
  Trust I, 9.36%, 1/29/27 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,468,650</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>184,073,552</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Real Estate&#151;2.6%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>8,180</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Sovereign Real
  Estate Investor Corp., 12.00%, 8/29/49</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11,874,419</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Bank Trust
  Preferred Securities</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>204,456,649</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Corporate Bonds&#151;36.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=2><B>Aerospace
  &amp; Defense&#151;0.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,625</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>DI Finance/Dyn Corp. Intl., 9.50%, 2/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,503,125</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=2><B>Automotive&#151;1.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>300</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Accuride Corp., 8.50%, 2/01/15 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>293,250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>125</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Arvinmeritor, Inc., 8.75%, 3/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>130,625</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>70</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cooper-Standard
  Automotive, Inc., 7.00%, 12/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>64,050</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>255</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Delphi Corp., 6.50%, 5/01/09</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>211,650</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Dura Operating Corp., Ser. B, 8.625%, 4/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>905,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>130</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Goodyear Tire &amp; Rubber Co., 7.857%, 8/15/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>126,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>CCC+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Metaldyne Corp., 10.00%, 11/01/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>203,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,850</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Rexnord Corp., 10.125%, 12/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,120,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,055,175</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=2><B>Basic
  Materials&#151;1.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>375</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Abitibi-Consolidated,
  Inc., 8.375%, 4/01/15 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>382,969</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,045</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Caraustar Industries, Inc., 9.875%, 4/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,065,450</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Donohue Forest Products, 7.625%, 5/15/07 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>203,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,700</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Lyondell Chemical Co., 11.125%, 7/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,057,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>450</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>NewPage Corp., 10.00%, 5/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>453,375</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>PQ Corp., 7.50%, 2/15/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>196,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,359,044</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=2><B>Building
  &amp; Development&#151;0.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>260</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Compression Polymers Corp., 10.50%, 7/01/13</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>264,550</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>790</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Goodman Global Holding Co., Inc., 7.875%, 12/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>730,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>995,300</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=2><B>Consumer
  Products&#151;2.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>115</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>ALH Finance LLC, 8.50%, 1/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>105,800</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Delhaize America, Inc., 9.00%, 4/15/31</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>7,530,480</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>320</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Finlay Fine Jewelry Corp., 8.375%, 6/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>284,800</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>110</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Gold Kist, Inc., 10.25%, 3/15/14</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>125,400</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,260</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Lazydays RV Center, Inc., 11.75%, 5/15/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,313,550</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>510</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Levi Strauss &amp; Co., 7.73%, 4/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>483,225</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>850</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Movie Gallery, Inc., 11.00%, 5/01/12</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>892,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>Rite Aid Corp., 6.125%, 12/15/08 </FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6e6e6">
  <P ALIGN=RIGHT><FONT SIZE=1>708,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#e6e6e6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11,444,505</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT SIZE=2>See
Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>26</FONT></P>


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

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5% WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="30%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="70%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP bgcolor="#000000" nowrap>
  <P><FONT SIZE=2 color=white><B>BlackRock Preferred Opportunity Trust (BPP) (continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>
<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="10%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>


 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  COLSPAN="4" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Containers &amp; Packaging&#151;0.7%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Crown European
  Holdings SA, 9.50%, 3/01/11 (France)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,322,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=2>&#160;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=2>&#160; </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM  >
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><b>Ecological Services &amp; Equipment&#151;0.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>400</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Allied Waste
  North America, Inc., 7.25%, 3/15/15 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>385,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Energy&#151;2.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>AES Corp.,
  8.875%, 2/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>3,345,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>210</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Compagnie
  Generale de Geophysique SA, 7.50%, 5/15/15 (France)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>217,350</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>710</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dresser, Inc.,
  9.375%, 4/15/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>747,275</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,120</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dynegy Holdings,
  Inc., 10.125%, 7/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,265,600</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>20</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Midwest Generation
  LLC, 8.56%, 1/02/16 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>22,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>170</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>North American
  Energy Partners, Inc., 9.00%, 5/15/10 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>171,700</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>130</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Ocean Rig Norway
  AS, 8.375%, 7/01/13 (Norway)</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>131,950</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,950</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Orion Power Holdings, Inc., 12.00%, 5/01/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,532,625</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B2</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>1,185</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Utilicorp Canada
  Finance Corp., 7.75%, 6/15/11 (Canada)</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>1,220,550</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Williams Cos., Inc., 7.125%, 9/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,165,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>12,819,150</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Entertainment
  &amp; Leisure&#151;0.1%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>130</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>Poster Financial Group, Inc., 8.75%, 12/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>132,275</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>190</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Wynn Las Vegas LLC, 6.625%, 12/01/14</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>184,300</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>316,575</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Financial
  Institutions&#151;18.5%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>AA-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>8,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,4,5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>American General Institute Cap., 7.57%, 12/01/45 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>11,011,920</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>415</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>American Real
  Estate Partners LP, 7.125%, 2/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>408,775</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>BAC Capital Trust V, 5.625%, 3/08/35 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>5,278,700</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Barclays Bank PLC,</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>1,890</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.278%, 12/01/34 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>1,930,163</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,105</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.86%, 6/01/32
  (United Kingdom) </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,296,055</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>350</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>BCP Crystal US Holdings Corp., 9.625%, 6/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>392,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>1,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Crum &amp; Forster Holdings Corp., 10.375%, 6/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,085,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>8,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Fairfax Financial
  Holdings Ltd., 7.75%, 4/26/12 (Canada) </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>7,600,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>11,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>First Midwest Cap. Trust I, Ser. B, 6.95%, 12/01/33 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>13,242,848</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>125</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>Ford Motor Credit Co., 7.25%, 10/25/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>120,990</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Aa3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>7,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>HSBC Bank USA, Inc., 5.875%, 11/01/34 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,725,690</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>BBB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>Kingsway America, Inc., 7.50%, 2/01/14</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>5,330,150</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>Aa2</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>7,399</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Lloyds Bank Ltd., 6.90%, 11/22/49</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,731,215</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>A</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>8,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>Prudential, 6.50%, 6/29/49 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>8,040,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>A3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>4,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Resparcs Funding
  LP, 8.00%, 12/30/49 (United Kingdom)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,210,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>Ba1</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>Sovereign Capital Trust 1, 9.00%, 4/01/27 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>2,162,160</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>NR</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>4,362</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Structured Asset Receivable Trust, 1.649%, 1/21/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,344,050</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>60</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>Universal City Florida Holding Co. I, 7.96%, 5/01/10 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>62,400</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BB-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>60</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Western Financial Bank, 9.625%, 5/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>65,100</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>A2</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>Westpac Cap. Trust IV, 5.256%, 3/31/16</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>3,017,340</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>85,054,556</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=2><B>Health
  Care&#151;0.3%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>920</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Insight Health
  Services Corp., Ser. B, 9.875%, 11/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>722,200</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>Tenet Healthcare Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>90</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.375%, 12/01/11 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>85,950</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>90</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>9.875%, 7/01/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>96,750</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>520</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Universal
  Hospital Services, Inc., 10.125%, 11/01/11</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>531,700</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>1,436,600</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Industrials&#151;1.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>Cenveo Corp., 9.625%, 3/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>3,255,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>300</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>ERICO Intl. Corp., 8.875%, 3/01/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>304,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>400</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Hydrochem
  Industrial Services, 9.25%, 2/15/13 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>368,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Trimas Corp., 9.875%, 6/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,520,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>6,447,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Media&#151;3.8%</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>BBB+</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>253</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>AOL Time Warner,
  Inc., Ser. A-1, zero coupon (CABCO) </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>6,623,627</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>BBB</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>110</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Comcast Corp.,
  zero coupon, 11/15/29 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,032,500</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>1,950</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dex Media East,
  LLC, 12.125%, 11/15/12 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>2,335,125</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>210</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Nexstar Finance,
  Inc., 7.00%, 1/15/14 </FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>194,513</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP  >
  <P ALIGN=CENTER><FONT SIZE=1>CCC</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P ALIGN=RIGHT><FONT SIZE=1>3,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>WRC Media, Inc.,
  12.75%, 11/15/09 </FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM  >
  <P ALIGN=RIGHT><FONT SIZE=1>3,180,000</FONT></P>
  </TD>
  <TD  VALIGN=TOP  >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>17,365,765</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=RIGHT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT SIZE=2>See
Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>27</FONT></P>


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





<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="37%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="63%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP BGCOLOR="BLACK" NOWRAP>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock&nbsp;Preferred&nbsp;Opportunity&nbsp;Trust&nbsp;(BPP)&nbsp;(continued)</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="55%" VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Principal</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rating<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>(000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="12" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Real Estate&#151;1.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Rouse Co.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>3.625%, 3/15/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,735,900</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>5.375%, 11/26/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,959,280</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,695,180</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Technology&#151;0.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>120</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
    <P STYLE="MARGIN-BOTTOM:-1PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Hynix
  Semiconductor, Inc., 9.875%, 7/01/12 (South Korea)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>119,100</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B1</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>185</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Lucent
  Technologies, Inc., 6.50%, 1/15/28</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>165,112</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>460</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Superior Essex
  Communications LLC, 9.00%, 4/15/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>457,700</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>741,912</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Telecommunications&#151;1.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>290</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cincinnati Bell,
  Inc., 7.25%, 7/15/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>305,225</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B-</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>190</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
      <P STYLE="MARGIN-BOTTOM:-1PX"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Hawaiian Telcom
  Communications, Inc., 8.914%, 5/01/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>195,225</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Intelsat Ltd.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>5.25%, 11/01/08
  (Bermuda)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>186,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>185</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
      <P STYLE="MARGIN-BOTTOM:-1PX"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.805%, 1/15/12
  (Bermuda)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>188,237</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>250</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
      <P STYLE="MARGIN-BOTTOM:-1PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.25%, 1/15/13
  (Bermuda)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>258,125</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>355</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
      <P STYLE="MARGIN-BOTTOM:-1PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>8.625%, 1/15/15
  (Bermuda)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>373,638</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Qwest Corp.,</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>610</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
      <P STYLE="MARGIN-BOTTOM:-1PX"><FONT SIZE=1><SUP>2,3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>6.671%, 6/15/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>622,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>BB</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,845</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
      <P STYLE="MARGIN-BOTTOM:-1PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>7.875%, 9/01/11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,918,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>450</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
     <P STYLE="MARGIN-BOTTOM:-1PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Qwest Services
  Corp., 13.50%, 12/15/10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>519,750</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,567,950</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Transportation&#151;0.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>40</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
      <P STYLE="MARGIN-BOTTOM:-1PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Horizon Lines
  LLC, 9.00%, 11/01/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>41,700</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>B+</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>80</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>OMI Corp.,
  7.625%, 12/01/13 (Marshall Island)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>80,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>B3</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,910</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Sea Containers
  Ltd., 10.50%, 5/15/12 (Bermuda)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,972,075</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,093,775</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Corporate
  Bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>166,603,612</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>U.S. Government and Agency Securities&#151;0.0%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>25</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>U. S. Treasury
  Notes, 4.00%, 2/15/15</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>25,145</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Investments
  before borrowed bonds and investments sold short (cost $659,642,630<SUP>7</SUP>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>682,895,031</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>BORROWED BOND&#151;5.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>U.S. Government and Agency Securities&#151;5.4%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>25,236</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1><SUP>6</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>U.S. Treasury
  Bonds, 2.25%, 7/01/05 (cost $25,235,875)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>25,235,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>INVESTMENT SOLD SHORT&#151;(5.4)%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>U.S. Government and Agency
Securities&#151;(5.4)%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(21,140</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>U.S. Treasury
  Bonds, 5.375%, 2/15/31 (proceeds $23,390,956)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(25,040,964</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><B>Total
  investments net of borrowed bonds and investments sold short&#151;148.2%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>683,089,942</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Liabilities in
  excess of other assets&#151;(0.3)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1,386,054</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Preferred shares
  at redemption value, including dividends payable&#151;(47.9)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(220,854,181</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Net Assets&#151;100%</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>460,849,707</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="20%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Using the higher of
  S&amp;P&#146;s, Moody&#146;s or Fitch&#146;s ratings.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Security is not registered
  under the Securities Act of 1933. These securities may be resold in
  transactions in accordance with Rule 144A under that Act, to qualified
  institutional buyers. As of June 30, 2005, the Trust held 32.1% of its net
  assets, with a current market value of $147,896,661, in securities restricted
  as to resale.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Security interest rate is
  as of June 30, 2005.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Securities, or a portion
  thereof, pledged as collateral with a value of $8,031,521 on 1,327 short U.S.
  Treasury Note futures contracts expiring Sept. 2005. The value of such
  contracts on June 30, 2005 was $154,085,063, with an unrealized loss of
  $1,929,545.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Entire or partial principal
  amount pledged as collateral for reverse repurchase agreements. See Note 4 in
  the Notes to Financial Statements for details of open reverse repurchase
  agreements.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>6</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>The interest rate and
  maturity date shown represent the terms of the bonds borrowed transaction,
  not the security borrowed (See Note 1).</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>7</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Cost for Federal income tax
  purposes is $659,696,118. The net unrealized appreciation on a tax basis is
  $23,198,913 consisting of $25,826,255 gross unrealized appreciation and
  $2,627,342 gross unrealized depreciation.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=1>A category in the Preferred
Securities, Trust Preferred Securities and Corporate Bonds sections may contain
multiple industries as defined by the SEC&#146;s Standard Industry Codes.</FONT></P>

<DIV STYLE="BORDER:1PX SOLID BLACK; WIDTH:100%">

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="90%">
 <TR style="font-size:1px">
  <TD WIDTH="8%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="35%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="35%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="6" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1><BR><B>KEY TO ABBREVIATIONS<BR><BR></B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;&nbsp;CABCO</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Corporate Asset Backed
  Corporation</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>PPLUS</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Preferred Plus</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;&nbsp;CORTS</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Corporate Backed Trust
  Securities</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>SATURNS</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Structured Asset Trust Unit
  Repackagings<BR><BR></FONT></P>
  </TD>
 </TR>
</TABLE>
</DIV>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>28</FONT></P>


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

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="100%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B><A NAME="A004"></A>STATEMENTS
  OF ASSETS AND LIABILITIES (unaudited)</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>June 30,
  2005</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

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

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="42%" VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Advantage&nbsp;Term<BR>
  Trust<SUP>1<BR>
  </SUP>(BAT)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Global<BR>
  Floating&nbsp;Rate<BR>
  Income&nbsp;Trust<BR>
  (BGT)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>High<BR>
  Income<BR>
  Shares<BR>
  (HIS)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Preferred<BR>
  Opportunity<BR>
  Trust<BR>
  (BPP)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Assets</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Investments at value<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>130,120,520</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>715,122,787</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>210,751,790</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>682,895,031</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Cash</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>131,908</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>100,276</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>21,424</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,898,657</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Foreign currency at value<SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>37,907</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>605</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Receivable from investments sold</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>14,076,904</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4,241,909</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>740,391</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Deposits with brokers as collateral for borrowed bonds</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25,235,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Unrealized gain on foreign currency exchange contracts</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1,143,469</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>114,638</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Income receivable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>78,940</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7,555,602</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>4,079,854</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>5,878,874</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Unrealized appreciation on credit default swaps</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>589</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3,163</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Other assets</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>34,964</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>62,601</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>44,496</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>96,995</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>130,366,921</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>738,102,709</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>219,254,716</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>717,745,823</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Liabilities</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Reverse repurchase agreement</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>31,903,403</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>23,723,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1,437,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Payable for investments purchased</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>16,327,183</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>5,126,138</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2,996,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Loan payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>66,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Investments sold short at value<SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25,040,964</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Outstanding options written at value</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Interest payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>60,844</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>30,168</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>139,226</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,509,525</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Unrealized depreciation on interest rate swaps</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4,009,523</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Variation margin payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>529,313</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Unrealized loss on foreign currency exchange contracts</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>216,927</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Cash with brokers as collateral</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>400,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Dividends payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1,250,590</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Investment advisory fee payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>40,362</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>326,416</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>258,805</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>366,709</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Administration fee payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>13,934</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Deferred Directors&#146; or Trustees&#146; fees</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>26,629</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6,419</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,304</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>41,469</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Payable to affiliates</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>12,224</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>25,902</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Other accrued expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>115,492</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>380,987</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>239,796</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>111,032</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>32,172,888</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>41,437,002</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>73,015,859</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>36,041,935</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Preferred Shares at Redemption Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>$.001 par value per share and $25,000 liquidation value per share,
  including dividends payable<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>243,517,734</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>220,854,181</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
 <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE="2"><B>Net Assets Applicable to Common
Shareholders</B> </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>98,194,033</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>453,147,973</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>146,238,857</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>460,849,707</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Composition of Net Assets Applicable to Common
Shareholders:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Par value</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>95,107</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>23,481</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>18,306</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Paid-in capital in excess of par</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>88,784,068</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>444,690,260</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>402,502,980</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>433,520,477</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Undistributed (distributions in excess of) net
investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10,616,024</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,741,018</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(598,326</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,545,342</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Accumulated net realized gain (loss)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>(1,749,932</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>(59,826</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>(249,129,235</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10,450,184</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Net unrealized appreciation
(depreciation)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>448,766</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6,753,040</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(6,536,562</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>15,315,398</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Net assets applicable to common shareholders, June 30,
2005</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>98,194,033</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>453,147,973</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>146,238,857</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>460,849,707</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Net asset value per common share<SUP>6</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10.32</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>19.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2.69</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>25.18</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><SUP>1 </SUP>&nbsp;&nbsp;&nbsp;Consolidated
  Statement of Assets and Liabilities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><SUP>2 </SUP>&nbsp;&nbsp;&nbsp;Investments
  at cost</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>129,672,547</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>709,295,900</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>217,402,012</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>659,642,630</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><SUP>3 </SUP>&nbsp;&nbsp;&nbsp;Foriegn
  currency at cost</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>40,386</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>650</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><SUP>4 </SUP>&nbsp;&nbsp;&nbsp;Proceeds
  received</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>23,390,956</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><SUP>5 </SUP>&nbsp;&nbsp;&nbsp;Preferred
  shares outstanding</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9,738</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,832</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1><SUP>6 </SUP>&nbsp;&nbsp;&nbsp;Common
  shares outstanding</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9,510,667</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>23,481,021</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>54,404,224</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>18,305,777</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>29</FONT></P>


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





<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="100%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B><A NAME="A005"></A>STATEMENTS OF OPERATIONS
  (unaudited)<BR>
  </B><FONT SIZE=3><B>For the
  six months ended June 30, 2005</B></FONT></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>
   </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="42%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM NOWRAP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Advantage&nbsp;Term<BR>Trust<SUP>1</SUP><BR>
  (BAT)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM NOWRAP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Global<BR>
  Floating Rate<BR>
  Income Trust<BR>
  (BGT)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>High<BR>
  Income<BR>
  Shares<BR>
  (HIS)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Preferred<BR>
  Opportunity<BR>
  Trust<BR>
  (BPP)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Net Investment
  Income</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Interest income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,875,656</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>20,769,948</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,668,596</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>13,150,376</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dividend income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>983</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>121</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>74,045</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>9,608,128</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,876,639</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>20,770,069</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8,742,641</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>22,758,504</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Expenses</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Investment advisory</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>245,415</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,641,649</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>782,296</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,235,186</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Administration</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>39,267</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,537</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Transfer agent</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,702</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,780</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11,198</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,421</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Custodian</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>38,958</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>106,656</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>39,138</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>61,049</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reports to shareholders</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>15,307</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>56,872</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>41,310</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>46,571</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Trustees</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,465</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>29,177</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>15,893</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>27,874</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Registration</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11,893</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,410</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>20,609</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9,472</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Independent accountants</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>21,199</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>25,204</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>25,950</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>19,452</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Legal</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>14,795</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>21,832</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9,140</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>24,395</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Insurance</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,222</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>26,312</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>13,104</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>22,166</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Auction agent</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>317,884</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>286,412</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Miscellaneous</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>46,054</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>35,516</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>42,088</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>37,205</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total expenses excluding interest
expense</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>453,277</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,282,292</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,009,263</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,777,203</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:34.55PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Interest Expense</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>391,597</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>257,769</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,011,685</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>57,278</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:34.55PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>844,874</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,540,061</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,020,948</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,834,481</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:34.55PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Less fees waived by Advisor</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(704,440</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:34.55PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Less fees paid indirectly</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1,174</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(25,230</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(2,950</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(3,276</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:34.55PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>843,700</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,810,391</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,017,998</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,831,205</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,032,939</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>17,959,678</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6,724,643</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>19,927,299</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Realized
  and Unrealized Gain (Loss)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Net realized gain (loss) on:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Investments</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>390,242</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>71,612</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4,247,605</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,321,629</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Foreign currency</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(87,154</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(11,610</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Futures</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(6,567,708</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total Realized Gain (Loss)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>390,242</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(15,542</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,235,995</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(246,079</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Net change in unrealized
  appreciation\depreciation on:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Investments</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(2,504,956</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1,605,016</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(13,123,609</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(14,292,895</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Foreign currency</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>85,624</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(2,504,956</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1,605,016</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(13,037,985</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(14,292,895</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Net loss</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(2,114,714</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(1,620,558</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(8,801,990</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(14,538,974</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Dividends to Preferred Shareholders from Net
  Investment Income</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(3,364,567</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(3,092,742</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Net Increase (Decrease) in Net Assets Applicable to
  Common Shareholders Resulting from Operations</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>918,225</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>12,974,553</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(2,077,347</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,295,583</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="20%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-TOP:-5PX'><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Consolidated Statement of
  Operations.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>30</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="100%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B><A NAME="A006"></A>STATEMENTS OF CASH FLOWS
  (unaudited)<BR>
  For the six months ended June 30, 2005</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

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

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="42%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Advantage<BR>
  Term Trust<SUP>1</SUP><BR>
  (BAT)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM NOWRAP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Global<BR>
  Floating Rate<BR>
  Income Trust<BR>
  (BGT)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>High<BR>
  Income<BR>
  Shares<BR>
  (HIS)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Preferred<BR>
  Opportunity<BR>
  Trust<BR>
  (BPP)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Reconciliation
  of Net Increase (Decrease) in Net
  Assets Resulting from Operations to Net Cash&#160;
  Provided by (Used for) Operating Activities</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net Increase (Decrease) in net assets resulting from
operations</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>918,225</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>16,339,120</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(2,077,347</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,388,325</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Purchases of long-term investments</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(6,681,039</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(171,348,766</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(160,356,505</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(238,953,267</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Proceeds from sales of long-term investments</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>47,112,967</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>169,825,306</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>167,856,042</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>227,684,812</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase in short-term investments</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(29,408,355</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>22,133,201</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(5,736,326</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(7,463,113</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Amortization of premium and discounts on investments</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(3,693,390</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1,262,555</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(4,592,727</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>13,607,455</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized loss (gain)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(390,242</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>15,542</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(4,235,995</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>246,079</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Decrease in unrealized appreciation/depreciation</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,504,956</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,605,016</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>13,037,985</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>14,292,895</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase in interest rate floor</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(529,313</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Decrease (Increase) in receivable for investments sold</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(13,624,538</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(3,406,714</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase in receivable for open forward foreign currency
contracts</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(16,410,298</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(1,727,167</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Decrease (Increase) in interest receivable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>113,016</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1,953,679</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(119,777</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(276,678</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Decrease (Increase) in other assets</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(6,877</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(22,649</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>296,539</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(43,011</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase (Decrease) in payable for investments
purchased</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(33,048,663</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,128,118</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,996,400</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase in payable for open forward foreign&#160; currency
contracts</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>16,060,292</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,613,461</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase in payable for closed forward foreign&#160; currency
contracts, net</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>400,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase (Decrease) in interest payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(6,215</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>30,168</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(5,075</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>173,246</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase (Decrease) in investment advisory fee payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(2,833</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,542</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>127,796</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(16,868</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase (Decrease) in administration fee payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(454</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase (Decrease) in deferred Directors&#146;/Trustees&#146;
fees</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,649</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,324</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(234,692</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7,099</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Decrease in accrued expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(88,555</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(66,207</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(122,484</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(22,769</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase in payable to affiliates</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,163</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>17,309</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.5PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total adjustments</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>19,459,791</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(27,644,655</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>7,522,479</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>11,702,967</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net cash provided by (used for) operating activities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>20,378,016</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(11,305,535</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,445,132</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>17,091,292</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Increase (Decrease) in Cash and Foreign Currency</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net cash provided by (used for) operating activities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>20,378,016</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(11,305,535</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,445,132</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>17,091,292</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cash provided by (used for) financing activities:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase (Decrease) in reverse repurchase
agreements</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(8,041,472</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>23,723,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1,437,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Increase in preferred shares at redemption value including dividends payable</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>32,028</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>22,327</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cash dividends paid</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(2,456,919</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(14,318,463</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(6,246,769</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(18,347,587</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net cash provided by (used for) financing activities</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(10,498,391</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>9,436,565</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(6,246,769</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(16,888,260</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net increase (decrease) in cash</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9,879,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1,868,970</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(801,637</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>203,032</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cash and foreign currency at beginning of
period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(9,747,717</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,007,153</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>823,106</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,695,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Cash and foreign currency at end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>131,908</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>138,183</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>21,469</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,898,657</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="20%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-TOP:-5PX'><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Consolidated Statement of
  Cash Flows.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>31</FONT></P>


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





<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="100%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B><A NAME="A007"></A>STATEMENTS OF CHANGES IN NET ASSETS</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>For the six months ended June 30,
  2005 (unaudited) and for the period ended&#160;
  December 31, 2004</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

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

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="39%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Advantage</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Global
  Floating Rate</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Term Trust<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Income
  Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>(BAT)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>(BGT)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2004<SUP>2</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Increase (Decrease) in Net Assets Applicable
to
  Common Shareholders</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Operations</B>:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,032,939</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,403,416</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>17,959,678</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>7,644,992</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized gain (loss)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>390,242</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2,582,613</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(15,542</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>104,561</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net change in unrealized
appreciation/depreciation</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(2,504,956</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(8,219,268</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(1,605,016</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8,358,056</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dividends and distributions to preferred
shareholders from:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(3,364,567</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(945,917</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized gains</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net increase (<FONT SIZE=1>decrease</FONT><FONT
SIZE=1>) in net assets applicable
  to common shareholders resulting from operations</FONT></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>918,225</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>766,761</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>12,974,553</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>15,161,692</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Dividends and Distributions to Common
Shareholders
  from:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(2,456,919</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(554,749</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(10,953,896</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(8,763,117</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized gains</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Tax return of capital distributions</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(8,917,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Total dividends and
  distributions</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(2,456,919</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(9,472,624</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(10,953,896</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(8,763,117</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Capital
  Share Transactions:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net proceeds from the issuance of common
shares</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>438,510,001</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net proceeds from the underwriters&#146;
over-allotment option exercised</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>9,053,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Offering costs relating to the issuance of
preferred shares</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(2,834,760</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reinvestment of common dividends</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Net proceeds from capital
  share transactions</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>444,728,741</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Total increase (decrease)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(1,538,694</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(8,705,863</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,020,657</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>451,127,316</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>Net Assets Applicable to Common
Shareholders</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>Beginning of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>99,732,727</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>108,438,590</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>451,127,316</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>End of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>98,194,033</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>99,732,727</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>453,147,973</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>451,127,316</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>End of period undistributed (distributions in
excess of) net
  investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10,616,024</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10,040,004</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,741,018</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(1,900,197</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
</TABLE>


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P><HR NOSHADE WIDTH=120 SIZE=1 COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Consolidated Statement of
  Changes in Net Assets.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD VALIGN=BOTTOM>
  <P STYLE="MARGIN-TOP:4PX"><FONT SIZE=1>Commencement of investment
  operations for Global Floating Rate Income was August 30, 2004. This
  information includes the initial investment by BlackRock Funding, Inc. The
  other Trusts&#146; statements are for a full year.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>32</FONT></P>


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


<BR>

<TABLE  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="2%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="19%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="18%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="17%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="17%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>High Income</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Preferred</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Shares</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Opportunity
  Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>(HIS)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>(BPP)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="5" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>6,724,643</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>14,823,261</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>19,927,299</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>40,552,790</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,235,995</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1,468,607</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(246,079</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>12,492,981</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(13,037,985</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2,948,471</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(14,292,895</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(6,235,228</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(3,092,742</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(2,900,841</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(402,710</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
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  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>698,683</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
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  <P><FONT SIZE=1>&nbsp;</FONT></P>
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  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>515,237</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>698,683</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
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  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
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  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
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  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
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  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(9,059,469</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>999,845</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(12,959,262</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,566,366</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
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  <P><FONT SIZE=1>&nbsp;</FONT></P>
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  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>155,298,326</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>154,298,481</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>473,808,969</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>468,242,603</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>146,238,857</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>155,298,326</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>460,849,707</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>473,808,969</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(598,326</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>186,113</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,545,342</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(34,370</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
</TABLE>


<P ALIGN=CENTER><FONT SIZE=2>33</FONT></P>




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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="100%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B><A NAME="A008"></A>CONSOLIDATED FINANCIAL HIGHLIGHTS</B></FONT></P>
  </TD>
 </TR>
</TABLE>


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
  <TD WIDTH="37%" VALIGN=TOP NOWRAP BGCOLOR=BLACK>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock Advantage Term Trust (BAT)</B></FONT></P>
  </TD>
  <TD WIDTH="63%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="32%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" ROWSPAN="5" VALIGN=BOTTOM  NOWRAP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Six Months<BR>
  Ended<BR>June 30,<BR>2005<BR>
  (unaudited)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="14" VALIGN=BOTTOM  NOWRAP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Year Ended
  December 31,</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="14" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2003</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2002</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2001</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2000</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>PER SHARE OPERATING PERFORMANCE:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net asset value, beginning of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10.49</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11.40</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>12.01</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11.64</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10.83</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10.04</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Investment operations:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.32</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.67</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.83</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.19</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.00</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.59</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized and unrealized gain
(loss)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.58</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.74</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.18</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.41</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.80</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net increase from investment operations</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.01</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.41</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.39</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dividends and distributions from:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.64</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.60</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.60</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Tax return of capital</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.94</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total dividends and distributions</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1.00</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.64</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.60</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.60</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net asset value, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10.32</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10.49</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>11.40</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>12.01</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>11.64</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>10.83</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Market price, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>10.47</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11.85</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11.15</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9.88</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>TOTAL INVESTMENT RETURN<SUP>1</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.47</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.45</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.25</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>12.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>19.44</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>16.28</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>RATIOS TO AVERAGE NET ASSETS:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.72</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.29</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.42</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.82</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.87</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4.06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.72</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.29</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.42</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.82</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.87</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4.06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net expenses excluding interest expense and excise tax</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.92</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.84</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.84</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.86</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.92</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.88</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6.18</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6.04</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7.04</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9.98</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8.78</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5.72</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>SUPPLEMENTAL DATA:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Average net assets (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>98,980</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>105,987</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>111,990</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>113,632</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>108,142</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>98,368</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Portfolio turnover</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>5</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>20</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>17</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>17</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net assets, end of period (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>98,194</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>99,733</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>108,439</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>114,256</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>110,685</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>103,010</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reverse repurchase agreements outstanding, end of period
(000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>31,903</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>39,945</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>30,078</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>27,874</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>34,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>48,262</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Asset coverage, end of period<SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,078</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,497</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,605</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5,099</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4,208</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,134</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reverse repurchase agreements average daily balance
(000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>15,002</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>28,840</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>26,298</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>33,157</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>41,208</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>45,368</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reverse repurchase agreements weighted average interest
rate</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.86</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.48</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.20</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.81</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4.24</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6.39</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
</TABLE>


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P><HR NOSHADE WIDTH=120 SIZE=1 COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Total investment return is
  calculated assuming a purchase of a share at the current market price on the
  first day and a sale at the current market price on the last day of each
  period reported. Dividends and distributions, if any, are assumed for
  purposes of this calculation to be reinvested at prices obtained under the
  Trust&#146;s dividend reinvestment plan. Total investment returns do not reflect
  brokerage commissions. Total investment returns for less than a full year are
  not annualized. Past performance is not a guarantee of future results.</FONT></P>
  </TD>
 </TR>





<TR>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Annualized.</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Per $1,000 of reverse
  repurchase agreements outstanding.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=1>The information in the above
Financial Highlights represents the operating performance for a common share
outstanding, total investment returns, ratios to average net assets and other
supplemental data for each period indicated. This information has been
determined based upon financial information provided in the financial statements
and market price data for the Trust&#146;s common shares.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>34</FONT></P>

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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="100%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B>FINANCIAL HIGHLIGHTS</B></FONT></P>
  </TD>
 </TR>
</TABLE>


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
 <TR>
  <TD WIDTH="37%" VALIGN=TOP NOWRAP BGCOLOR=BLACK>
  <P><FONT SIZE=2 COLOR=WHITE><B>BlackRock Global Floating Rate Income Trust (BGT)</B></FONT></P>
  </TD>
  <TD WIDTH="63%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
</TABLE>


<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="69%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM NOWRAP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Six Months<BR>
  Ended<BR>
  June 30, 2005<BR>
  (unaudited)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM NOWRAP>
  <P ALIGN=CENTER><FONT SIZE=2><B>For the period</B><BR>
  <B>August 30, 2004<SUP>1</SUP></B></FONT><BR>
<FONT SIZE=2><B>  through<BR>December 31, 2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>PER SHARE OPERATING PERFORMANCE:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net asset value, beginning of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>19.21</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>19.10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Investment operations:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.76</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.33</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized and unrealized gain
(loss)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.06</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.35</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dividends to preferred shareholders from net
investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.04</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net increase from investment operations</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.56</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.64</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dividends to common shareholders from net investment
income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.47</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.37</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Capital charges with respect to issuance of:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Common shares</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.04</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Preferred shares</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total capital charges</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.16</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net asset value, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>19.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>19.21</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Market price, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>17.70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>18.63</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>TOTAL INVESTMENT RETURN<SUP>3</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(3.05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6" NOWRAP>
  <P><FONT SIZE=1>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(5.00</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6" nowrap>
  <P><FONT SIZE=1>)%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><font size=1>&nbsp;</font></p>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
<HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
  <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>RATIOS TO AVERAGE NET ASSETS OF COMMON
SHAREHOLDERS:<SUP>4,5</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.58</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.97</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net expenses excluding interest expense</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.97</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income before preferred share dividends</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>8.03</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5.04</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Preferred share dividends</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.50</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.62</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income available to common shareholders</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6.53</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4.42</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>SUPPLEMENTAL DATA:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Average net assets (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>451,228</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>446,660</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Portfolio turnover</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>11</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net assets applicable to common shareholders, end of period
(000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>453,148</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>451,126</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Preferred shares outstanding (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>243,450</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>243,450</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reverse repurchase agreements outstanding, end of period
(000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>23,723</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reverse repurchase agreements average daily balance
(000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>17,408</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>114</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reverse repurchase agreements weighted average interest
rate</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3.17</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.24</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Asset coverage, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>73,997</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>71,330</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P><HR NOSHADE WIDTH=120 SIZE=1 COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Commencement of investment
  operations. This information includes the initial investment by BlackRock
  Funding, Inc. </FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Net asset value, beginning
  of period, reflects a deduction of $0.90 per share sales charge from the
  initial offering price of $20.00 per share.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>3</SUP></FONT> </P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Total investment return is
  calculated assuming a purchase of a share at the current market price on the
  first day and a sale at the current market price on the last day of each
  period reported. Dividends and distributions, if any, are assumed for
  purposes of this calculation to be reinvested at prices obtained under the
  Trust&#146;s dividend reinvestment plan. Total investment returns do not reflect
  brokerage commissions. Total investment returns for less than a full year are
  not annualized. Past performance is not a guarantee of future results. </FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Annualized.</FONT></P>
  </TD>
 </TR>

<TR>
  <TD  VALIGN=TOP>
  <P style="margin-top:-5px"> <FONT SIZE=1><SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>Ratios are calculated on the
  basis of income and expenses applicable to both the common and preferred
  shares relative to the average net assets of the common shareholders.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=1>The information in the above
Financial Highlights represents the operating performance for a common share
outstanding, total investment returns, ratios to average net assets and other
supplemental data for each period indicated. This information has been
determined based upon financial information provided in the financial
statements and market price data for the Trust&#146;s common shares.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>35</FONT></P>

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



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR  style="font-size:1px">
  <TD WIDTH=50%>
<P>&nbsp;</P>
  </TD>
  <TD WIDTH=50% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
  <TR>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=3><B>FINANCIAL HIGHLIGHTS</B></FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
  <TR>
  <TD  WIDTH=30% VALIGN=BOTTOM BGcolor=black nowrap>
  <P><FONT SIZE=2 COLOR=WHITE><b>BlackRock
 High Income Shares (HIS)</b></FONT></P>
  </TD>
  <TD WIDTH=70% VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>


<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="28%" VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM rowspan="3">
  <P ALIGN=CENTER><FONT SIZE=2><B>Six Months<BR>Ended<BR>June 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="14" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Year Ended December 31,<BR></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>

  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="14" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>

  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2003</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2002</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2001<SUP>4</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>2000</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>PER SHARE OPERATING PERFORMANCE:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net asset value, beginning of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.87</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.86</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.42</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3.05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3.88</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5.92</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Investment operations:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.28</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.32</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.36</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.55</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.68</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized and unrealized gain
(loss)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.17</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.03</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.40</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.62</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.81</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(1.99</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net increase (decrease) from investment operations</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.04</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.31</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.72</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(1.31</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dividends and distributions from:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.28</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.29</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.57</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.73</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Tax return of capital</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.08</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Total
  dividends and distributions</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.30</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.28</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.37</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.57</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.73</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net asset value, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.69</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.87</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.86</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.42</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3.05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3.88</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Market value, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.79</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.90</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.87</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.32</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3.36</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4.19</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>TOTAL INVESTMENT RETURN<SUP>2</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.18</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>12.24</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>37.23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(21.23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(6.85</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(10.05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>RATIOS TO AVERAGE NET ASSETS:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.73</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.21</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.53</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3.43</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>4.16</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.72</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.21</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.53</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3.43</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>4.16</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net expense, excluding interest expense</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.36</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.39</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.46</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.49</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.26</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9.07</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>9.70</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11.99</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>13.29</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>15.56</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>13.13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>SUPPLEMENTAL DATA:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Average net assets (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>149,512</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>152,815</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>143,397</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>144,665</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>174,851</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>267,845</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Portfolio turnover</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>76</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>56</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>93</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>134</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>82</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>38</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net assets, end of period (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>146,239</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>155,298</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>154,298</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>129,538</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>161,693</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>202,401</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Loan outstanding, end of period (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>66,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>69,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>68,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>51,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>73,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>86,963</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Asset coverage, end of period<SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,216</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,251</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,269</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,540</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,191</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,326</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Loan average daily balance (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>66,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>64,081</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>60,604</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>68,577</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>74,023</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>107,036</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Loan weighted average interest rate</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3.01</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.01</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.72</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.20</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>5.50</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>7.68</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
</TABLE>





<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>

 <TR>
  <TD VALIGN=TOP colspan="2">
  <P><HR SIZE=1 WIDTH="120" NOSHADE COLOR=GRAY ALIGN=LEFT>
  </TD>

 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:5px"><FONT SIZE=1>Net investment income per share has been recalculated
  in accordance with SEC requirements, with the exception that end-of-the-year
  accumulated undistributed/(overdistributed) net investment income has not
  been adjusted to reflect current-year permanent differences between financial
  and tax accounting.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:5px"><FONT SIZE=1>Total investment return is calculated assuming a
  purchase of a share at the current market price on the first day and a sale
  at the current market price on the last day of each period reported.
  Dividends and distributions, if any, are assumed for purposes of this
  calculation to be reinvested at rates obtained under the Trust dividend
  reinvestment plan. Total investment returns do not reflect brokerage
  commissions. Past performance is not a guarantee of future results.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:5px"><FONT SIZE=1>Per $1,000 of loan outstanding.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:5px"><FONT SIZE=1>Effective January 1, 2001, the Trust was required to
  start amortizing premium and discount on all debt securities. The effect of
  this change on net investment income per share was an increase of $0.03 per
  share. The effect to the ratio of net investment income to average net assets
  was an increase of 0.77%. Per share ratios and supplemental data for periods
  prior to January 1, 2001, have not been restated to reflect this change in
  accounting principles.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:5px"><FONT SIZE=1>Annualized.</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
<P><FONT SIZE=1><BR>The information in the above Financial Highlights
represents the operating performance for a common share outstanding, total
investment returns, ratios to average net assets and other supplemental data
for each year indicated. This information has been determined based upon
financial information provided in the financial statements and market price
data for the Trust&#146;s common shares.</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
<P><FONT SIZE=1>The performance set forth in this table is the
financial data of BlackRock High Income Shares (formerly CIGNA High Income
Shares). BlackRock began managing CIGNA High Income Shares on March 2, 2005.</FONT></P>
  </TD>
 </TR>

</TABLE>

<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>36</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR  style="font-size:1px">
  <TD WIDTH=50%>
<P>&nbsp;</P>
  </TD>
  <TD WIDTH=50% VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
  <TR>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=3><B>FINANCIAL HIGHLIGHTS</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=5 WIDTH="100%">
  <TR>
  <TD  WIDTH=37% VALIGN=BOTTOM BGcolor=black nowrap>
  <P><FONT SIZE=2 COLOR=WHITE><b>BlackRock
Preferred Opportunity Trust (BPP)</b></FONT></P>
  </TD>
  <TD  WIDTH=63% VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="36%" VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="14%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="16%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="16%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Six Months<BR>
  Ended<BR>
  June30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>For the Year<BR>
  Ended<BR>
  December 31, 2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM NOWRAP >
  <P ALIGN=CENTER><FONT SIZE=2><B>For the Period<BR>
  February 28, 2003<SUP>1 <BR>
  </SUP>through<BR>
  December 31, 2003</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>PER SHARE OPERATING PERFORMANCE:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net asset value, beginning of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>25.88</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>25.58</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>23.88</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Investment operations:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.22</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.72</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized and unrealized gain (loss)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.79</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.33</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.93</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dividends and distributions to preferred shareholders
from:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.17</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.l6</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized gains</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.02</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net increase from investment operations</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>0.13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>2.37</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3.55</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Dividends and distributions to common shareholders
from:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.83</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(2.00</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(1.66</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net realized gains</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.07</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total dividends and distributions</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.83</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(2.07</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(1.66</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Capital charges with respect to issuance of:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Common shares</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Preferred shares</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>(0.14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total capital charges</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>(0.19</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net asset value, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>25.18</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>25.88</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>25.58</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Market price, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>24.80</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>25.39</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>24.83</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>TOTAL INVESTMENT RETURN<SUP>3</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>2.60</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>11.01</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>6.28</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>RATIOS TO AVERAGE NET ASSETS OF COMMON
SHAREHOLDERS:<SUP>4</SUP></B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Total expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.22</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM NOWRAP>
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.44</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.52</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net expenses</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.22</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.44</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.52</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6" NOWRAP>
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net expenses excluding interest expense</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.19</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.19</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.16</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income before preferred share dividends</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8.57</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8.66</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8.35</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Preferred share dividends</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>1.33</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%<sup>5</sup></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.62</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>0.48</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net investment income available to common shareholders</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>7.24</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>8.04</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>7.87</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%<SUP>5</SUP></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2><B>SUPPLEMENTAL DATA:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Average net assets of common shareholders (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>468,851</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>468,110</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>449,345</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Portfolio turnover</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>33</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>88</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>98</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Net assets applicable to common shareholders, end of period
(000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>460,850</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>473,809</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>468,243</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Preferred shares value outstanding, end of period (000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>220,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>220,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>220,841</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reverse repurchase agreements outstanding, end of period
(000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1,437</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3,486</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reverse repurchase agreements average daily balance
(000)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>3,726</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>782</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>19,822</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Reverse repurchase agreements weighted average interest
rate</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>3.10</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.50</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>1.44</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>%</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=1>Asset coverage, end of period</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>77,186</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>78,650</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>78,021</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>




<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR  style="font-size:1px">
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>

 <TR>
  <TD VALIGN=TOP colspan="2">
  <P><HR SIZE=1 WIDTH="120" NOSHADE COLOR=GRAY ALIGN=LEFT>
  </TD>

 </TR>



 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:5px"><FONT SIZE=1>Commencement of investment
  operations. This information includes the initial investment by BlackRock
  Funding, Inc. </FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:5px"><FONT SIZE=1>Net asset value, beginning
  of period, reflects a deduction of $1.12 per share sales charge from the
  initial offering price of $25.00 per share.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:5px"><FONT SIZE=1>Total investment return is
  calculated assuming a purchase of a share at the current market price on the
  first day and a sale at the current market price on the last day of each
  period reported. Dividends and distributions, if any, are assumed for
  purposes of this calculation to be reinvested at prices obtained under the
  Trust&#146;s dividend reinvestment plan. Total investment returns do not reflect
  brokerage commissions. Total investment returns for less than a full year are
  not annualized. Past performance is not a guarantee of future results. </FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>4</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P style="margin-top:5px"><FONT SIZE=1>Ratios are calculated on the
  basis of income and expenses applicable to both the common and preferred
  shares relative to the average net assets of the common shareholders.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:-5PX"><FONT SIZE=1><SUP>5</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Annualized.</FONT></P>
  </TD>
 </TR>




 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
<P ><FONT SIZE=1>The information in the above
Financial Highlights represents the operating performance for a common share
outstanding, total investment returns, ratios to average net assets and other
supplemental data for each period indicated. This information has been
determined based upon financial information provided in the financial
statements and market price data for the Trust&#146;s common shares.</FONT></P>
  </TD>
 </TR>

</TABLE>



<P ALIGN=CENTER><FONT  SIZE=2>See Notes to Financial Statements.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>37</FONT></P>


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



<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="100%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=3><B><A NAME="A009"></A>NOTES TO FINANCIAL STATEMENTS (unaudited)</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

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

<P><FONT SIZE=3><B>Note 1. Organization &amp; Accounting
Policies</B></FONT></P>

<P><FONT SIZE=2>The BlackRock Advantage Term
Trust Inc. (&#147;Advantage&#148;), a Maryland corporation, and BlackRock High Income
shares (&#147;High Income&#148;), a Massachusetts Business Trust, are registered as
diversified, closed-end management investment companies under the Investment
Company Act of 1940 (the &#147;1940 Act&#148;), as amended.&#160; BlackRock Global Floating Rate Income Trust (&#147;Global&#148;) and
BlackRock Preferred Opportunity Trust (&#147;Preferred Opportunity&#148;) are organized
as Delaware statutory trusts and are registered as non-diversified and
diversified, closed-end management investment companies, respectively, under
the 1940 Act, as amended. Advantage, Global, High Income and Preferred
Opportunity are individually referred to as a &#147;Trust&#148; and collectively as the
&#147;Trusts&#148;.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advantage
transferred, on October 31, 1998, a substantial portion of its total assets to
a 100% owned regulated investment company subsidiary called BAT Subsidiary,
Inc. The financial statements and these notes to the financial statements for
Advantage are consolidated and include the operations of Advantage and its
wholly owned subsidiary after elimination of all intercompany transactions and
balances.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors of Advantage adopted a Plan of Liquidation and Dissolution
(the &#147;Plan&#148;) effective January 2, 2004. Pursuant to the terms of the Plan, the
Board of Directors shall oversee the complete liquidation and winding up of
Advantage in an orderly fashion on December 31, 2005.</FONT></P>

<P><FONT SIZE=2>The following is a summary of
significant accounting policies followed by the Trusts.</FONT></P>

<P><FONT SIZE=2><B>Investment Valuation: </B>The Trusts value most of their investments on
the basis of current market quotations provided by dealers or pricing services
selected under the supervision of each Trust&#146;s Board (the &#147;Board&#148;) of
Directors/Trustees (the &#147;Trustees&#148;). In determining the value of a particular
investment, pricing services may use certain information with respect to
transactions in such investments, quotations from dealers, market transactions
in comparable investments, various relationships observed in the market between
investments, and calculated yield measures based on valuation technology
commonly employed in the market for such investments. Exchange-traded options
are valued at their last sales price as of the close of options trading on
applicable exchanges. In the absence of a last sale, options are valued at the
average of the quoted bid and asked prices as of the close of business. A
futures contract is valued at the last sale price as of the close of the
commodities exchange on which it trades. Short-term securities may be valued at
amortized cost. Investments in open-end investment companies are valued at net
asset value. Investments or assets for which such current market quotations are
not readily available are valued at fair value (&#147;Fair Value Assets&#148;) as
determined in good faith under procedures established by, and under the general
supervision and responsibility of, each Trust&#146;s Board. The investment advisor
and/or sub-advisor will submit its recommendations regarding the valuation
and/or valuation methodologies for Fair Value Assets to a valuation
committee.&#160; The valuation committee may
accept, modify or reject any recommendations.&#160;
The pricing of all Fair Value Assets shall be subsequently reported to
and ratified by the Board.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When
determining the price for a Fair Value Asset, the investment advisor and/or
sub-advisor shall seek to determine the price that the Trust might reasonably
expect to receive from the current sale of that asset in an arm&#146;s-length
transaction.&#160; Fair value determinations
shall be based upon all available factors that BlackRock Advisors deems
relevant.</FONT></P>

<P><FONT SIZE=2><B>Investment Transactions and Investment Income: </B>Investment transactions are recorded on trade
date. Realized and unrealized gains and losses are calculated on the identified
cost basis. Each Trust records interest income on an accrual basis and
amortizes premium and/or accretes discount on securities purchased using the
interest method. Dividend income is recorded on the ex-dividend date, except
certain dividends from foreign securities where the ex-dividend date may have
passed. These dividends are recorded as soon as the Trust is informed of the
ex-dividend date. Dividend income on foreign securities is recorded net of any
withholding tax.</FONT></P>

<P><FONT SIZE=2><B>Repurchase Agreements: </B>In connection with transactions in repurchase
agreements, a Trust&#146;s custodian takes possession of the underlying collateral
securities, the value of which at least equals the principal amount of the
repurchase transaction, including accrued interest. To the extent that any
repurchase transaction exceeds one business day, the value of the collateral is
marked-to-market on a daily basis to ensure the adequacy of the collateral. If
the seller defaults and the value of the collateral declines or if bankruptcy
proceedings are commenced with respect to the seller of the security,
realization of the collateral by a Trust may be delayed or limited. </FONT></P>

<P><FONT SIZE=2><B>Bank Loans: </B>In the process of buying, selling and holding bank loans, a Trust may
receive and/or pay certain fees. These fees are in addition to interest
payments received and may include facility fees, commitment fees, amendment
fees, commissions and prepayment penalty fees. When a Trust buys a bank loan it
may receive a facility fee and when it sells a bank loan it may pay a facility
fee. On an ongoing basis, a Trust may receive a commitment fee based on the
undrawn portion of the underlying line of credit portion of a bank loan. In
certain circumstances, a Trust may receive a prepayment penalty fee upon the
prepayment of a bank loan by a borrower. Other fees received by a Trust may
include covenant waiver fees and covenant modification fees.</FONT></P>

<P><FONT SIZE=2><B>Option Writing/Purchasing: </B>When a Trust writes or purchases an option,
an amount equal to the premium received or paid by the Trust is recorded as an
asset or a liability and is subsequently adjusted to the current market value
of the option written or purchased. Premiums received or paid from writing or
purchasing options which expire unexercised are treated by the Trust on the
expiration date as realized gains or losses. The difference between the premium
and the amount paid or received on effecting a closing purchase or sale transaction,
including brokerage commissions, is also treated as a realized gain or loss. If
an option is exercised, the premium paid or received is added to the cost of
the purchase or the proceeds from the sale in determining whether a Trust has
realized a gain or a loss on investment transactions. A Trust, as writer of an
option, may have no control over whether the underlying securities may be sold
(call) or purchased (put) and as a result bears the market risk of an
unfavorable change in the price of the security underlying the written option. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Options,
when used by the Trusts, help in maintaining a targeted duration. Duration is a
measure of the price sensitivity of a security or a portfolio to relative
changes in interest rates. For instance, a duration of &#147;one&#148; means that a
portfolio&#146;s or a security&#146;s price would be expected</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>38</FONT></P>


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<P><FONT SIZE=2>to change by approximately
one percent with a one percent change in interest rates, while a duration of
five would imply that the price would move approximately five percent in
relation to a one percent change in interest rates. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option
writing and purchasing may be used by the Trusts as an attempt to manage the
duration of positions, or collections of positions, so that changes in interest
rates do not adversely affect the targeted duration of the portfolio
unexpectedly. A call option gives the purchaser of the option the right (but
not obligation) to buy, and obligates the seller to sell (when the option is
exercised), the underlying position at the exercise price at any time or at a
specified time during the option period. A put option gives the holder the
right to sell and obligates the writer to buy the underlying position at the
exercise price at any time or at a specified time during the option period. Put
or call options can be purchased or sold to help manage the targeted duration
of the portfolio.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
main risk that is associated with purchasing options is that the option expires
without being exercised. In this case, the option expires worthless and the
premium paid for the option is considered the loss. The risk associated with
writing call options is that a Trust may forgo the opportunity for a profit if
the market value of the underlying position increases and the option is
exercised. The risk in writing put options is that a Trust may incur a loss if
the market value of the underlying position decreases and the option is
exercised. In addition, the Trust risks not being able to enter into a closing
transaction for the written option as the result of an illiquid market. </FONT></P>

<P><FONT SIZE=2><B>Stripped Mortgage-Backed Securities: </B>Stripped mortgage-backed securities are
usually structured with two classes that receive different proportions of the
interest and principal distributions on a pool of mortgage assets. In certain
cases, one class will receive all of the interest (the interest-only or &#147;IO&#148;
class), while the other class will receive all of the principal (the
principal-only or &#147;PO&#148; class). The yield to maturity on IOs is sensitive to the
rate of principal repayments (including prepayments) on the related underlying
mortgage assets, and principal payments may have a material effect on yield to
maturity. If the underlying mortgage assets experience greater than anticipated
prepayments of principal, a Trust may not fully recoup its initial investment
in IOs. Such securities will be considered liquid only if so determined in
accordance with guidelines established by the Trustees. </FONT></P>

<P><FONT SIZE=2><B>Credit Default Swaps: </B>Credit default swaps are agreements in which
one party pays fixed periodic payments to a counterparty in consideration for a
guarantee from the counterparty to make a specific payment should a negative
credit event take place. Risks arise from the possible inability of the
counterparties to meet the terms of their contracts.</FONT></P>

<P><FONT SIZE=2><B>Total Return Swaps: </B>Total return swaps are agreements in which one party commits to pay
interest in exchange for a market linked return. To the extent the total return
of the security or index underlying the transaction exceeds or falls short of
the offsetting interest rate obligation, the Trust will receive a payment from
or make a payment to the counterparty.</FONT></P>

<P><FONT SIZE=2><B>Interest Rate Swaps: </B>Interest rate swaps are agreements in which one party pays a floating
rate of interest on a notional principal amount and receives a fixed rate of
interest on the same notional principal amount for a specified period of time.
Alternatively, a party may pay a fixed rate and receive a floating rate.
Interest rate swaps are efficient as asset/liability management tools. In more
complex swaps, the notional principal amount may decline (or amortize) over
time. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the term of the swap, changes in the value of the swap are recognized as
unrealized gains or losses by &#147;marking-to-market&#148; to reflect the market value
of the swap. When the swap is terminated, a Trust will record a realized gain
or loss equal to the difference between the proceeds from (or cost of) the
closing transaction and the Trust&#146;s basis in the contract, if any. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trusts are exposed to credit loss in the event of non-performance by the other
party to the swap. However, the Trusts closely monitor swaps and do not
anticipate non-performance by any counterparty. </FONT></P>

<P><FONT SIZE=2><B>Swap Options:</B> Swap options are similar to options on securities except that instead
of selling or purchasing the right to buy or sell a security, the writer or
purchaser of the swap option is granting or buying the right to enter into a
previously agreed upon interest rate swap agreement at any time before the
expiration of the option. Premiums received or paid from writing or purchasing
options are recorded as liabilities or assets and are subsequently adjusted to
the current market value of the option written or purchased. Premiums received
or paid from writing or purchasing options which expire unexercised are treated
by a Trust on the expiration date as realized gains or losses. The difference
between the premium and the amount paid or received on effecting a closing
purchase or sale transaction, including brokerage commission, is also treated
as a realized gain or loss. If an option is exercised, the premium paid or
received is added to the cost of the purchase or the proceeds from the sale in
determining whether a Trust has realized a gain or loss on investment
transactions. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
main risk that is associated with purchasing swap options is that the swap
option expires without being exercised. In this case, the option expires
worthless and the premium paid for the swap option is considered the loss. The
main risk that is associated with the writing of a swap option is the market
risk of an unfavorable change in the value of the interest rate swap underlying
the written swap option. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Swap
options may be used by the Trusts to manage the duration of the Trusts&#146; portfolios
in a manner similar to more generic options described above. </FONT></P>

<P><FONT SIZE=2><B>Interest Rate Caps:</B> Interest rate caps are similar to interest rate swaps, except that one
party agrees to pay a fee, while the other party pays the excess, if any, of a
floating rate over a specified fixed or floating rate. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
rate caps are intended to both manage the duration of the Trusts&#146; portfolios
and their exposure to changes in short-term interest rates. Owning interest
rate caps reduces a portfolio&#146;s duration, making it less sensitive to changes
in interest rates from a market value perspective. The effect on income
involves protection from rising short-term interest rates, which the Trusts
experience primarily in the form of leverage. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trusts are exposed to credit loss in the event of non-performance by the other
party to the interest rate cap. However, the Trusts do not anticipate
non-performance by any counterparty. </FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>39</FONT></P>


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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction
fees paid or received by the Trusts are recognized as assets or liabilities and
amortized or accreted into interest expense or income over the life of the
interest rate cap. The asset or liability is subsequently adjusted to the
current market value of the interest rate cap purchased or sold. Changes in the
value of the interest rate cap are recognized as unrealized gains and losses. </FONT></P>

<P><FONT SIZE=2><B>Interest Rate Floors:</B> Interest rate floors are similar to interest
rate swaps, except that one party agrees to pay a fee, while the other party
pays the deficiency, if any, of a floating rate under a specified fixed or
floating rate. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
rate floors are used by the Trusts to both manage the duration of the
portfolios and their exposure to changes in short-term interest rates. Selling
interest rate floors reduces a portfolio&#146;s duration, making it less sensitive
to changes in interest rates from a market value perspective. The Trusts&#146;
leverage provides extra income in a period of falling rates. Selling floors
reduces some of that extra income by partially monetizing it as an up-front
payment which the Trusts receive. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trusts are exposed to credit loss in the event of non-performance by the other
party to the interest rate floor. However, the Trusts do not anticipate
non-performance by any counterparty. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction
fees paid or received by the Trusts are recognized as assets or liabilities and
amortized or accreted into interest expense or income over the life of the
interest rate floor. The asset or liability is subsequently adjusted to the
current market value of the interest rate floor purchased or sold. Changes in
the value of the interest rate floor are recognized as unrealized gains and
losses. </FONT></P>

<P><FONT SIZE=2><B>Financial Futures Contracts:</B> A futures contract is an agreement between
two parties to buy and sell a financial instrument for a set price on a future
date. Initial margin deposits are made upon entering into futures contracts and
can be either cash or securities. During the period the futures contract is
open, changes in the value of the contract are recognized as unrealized gains
or losses by &#147;marking-to-market&#148; on a daily basis to reflect the market value
of the contract at the end of each day&#146;s trading. Variation margin payments are
made or received, depending upon whether unrealized gains or losses are
incurred. When the contract is closed, a Trust records a realized gain or loss
equal to the difference between the proceeds from (or cost of) the closing
transaction and the Trust&#146;s basis in the contract. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
futures contracts, when used by the Trusts, help in maintaining a targeted
duration. Futures contracts can be sold to effectively shorten an otherwise
longer duration portfolio. In the same sense, futures contracts can be
purchased to lengthen a portfolio that is shorter than its duration target.
Thus, by buying or selling futures contracts, the Trusts may attempt to manage
the duration of positions so that changes in interest rates do not change the
duration of the portfolio unexpectedly. </FONT></P>

<P><FONT SIZE=2><B>Forward Currency Contracts:</B> The Trusts enter into forward currency
contracts primarily to facilitate settlement of purchases and sales of foreign
securities and to help manage the overall exposure to foreign currency. A
forward contract is a commitment to purchase or sell a foreign currency at a future
date (usually the security transaction settlement date) at a negotiated forward
rate. In the event that a security fails to settle within the normal settlement
period, the forward currency contract is renegotiated at a new rate. The gain
or loss arising from the difference between the settlement value of the
original and renegotiated forward contracts is isolated and is included in net
realized gains (losses) from foreign currency transactions. Risks may arise as
a result of the potential inability of the counterparties to meet the terms of
their contract.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward
currency contracts, when used by the Trusts, help to manage the overall
exposure to the foreign currency backing some of the investments held by the
Trusts. Forward currency contracts are not meant to be used to eliminate all of
the exposure to the foreign currency, rather they allow the Trusts to limit
their exposure to foreign currency within a narrow band to the objectives of
the Trusts. </FONT></P>

<P><FONT SIZE=2><B>Foreign Currency Translation:</B> Foreign currency amounts are translated into
United States dollars on the following basis: </FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="90%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>(i)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>market value of investment
  securities, other assets and liabilities&#151;at the London 4:00 PM rates of
  exchange.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>(ii)</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Purchases and sales of
  investment securities, income and expenses&#151;at the rates of exchange
  prevailing on the respective dates of such transactions.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trusts isolate that portion of the results of operations arising as a result of
changes in the foreign exchange rates from the fluctuations arising from
changes in the market prices of securities held at period end. Similarly, the
Trusts isolate the effect of changes in foreign exchange rates from the
fluctuations arising from changes in the market prices of portfolio securities
sold during the period. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
realized and unrealized foreign exchange gains and losses including realized
foreign exchange gains and losses from sales and maturities of foreign
portfolio securities, maturities of foreign reverse repurchase agreements,
sales of foreign currencies, currency gains or losses realized between the
trade and settlement dates on securities transactions, the difference between
the amounts of interest and discount recorded on the Trusts&#146; books and the U.S.
dollar equivalent amounts actually received or paid and changes in unrealized
foreign exchange gains and losses in the value of portfolio securities and
other assets and liabilities arising as a result of changes in the exchange
rate. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign
security and currency transactions may involve certain considerations and risks
not typically associated with those of domestic origin, including unanticipated
movements in the value of the foreign currency relative to the U.S. dollar. </FONT></P>

<P><FONT SIZE=2><B>Short Sales:</B> The Trusts may make short sales of securities as a method of managing
potential price declines in similar securities owned. When a Trust makes a
short sale, it may borrow the security sold short and deliver it to the
broker-dealer through which it made the short sale as collateral for its obligation
to deliver the security upon conclusion of the sale. The Trusts may have to pay
a fee to borrow the particular securities and may be obligated to pay over any
payments received on such borrowed securities. A gain, limited to the price at
which a Trust sold the security short, or a loss, unlimited as to dollar
amount, will be recognized upon the termination of a short sale if the market
price is greater or less than the proceeds originally received. </FONT></P>

<P><FONT SIZE=2><B>Bonds Borrowed Agreements: </B>In a bonds borrowed agreement, the Trust
borrows securities from a third party, with the commitment that they will be
returned to the lender on an agreed-upon date. Bonds borrowed agreements are
primarily entered into to settle short positions. In a bonds borrowed
agreement, the Trust&#146;s prime broker or third party broker takes possession of
the underlying collateral securities or cash to settle such</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>40</FONT></P>


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


<P><FONT SIZE=2>short positions. The value of
the underlying collateral securities approximates the principal amount of the
bonds borrowed transaction, including accrued interest. To the extent that
bonds borrowed transactions exceed one business day, the value of the
collateral with any counterparty is marked-to-market on a daily basis to ensure
the adequacy of the collateral. If the lender defaults and the value of the
collateral declines or if bankruptcy proceedings are commenced with respect to
the lender of the security, realization of the collateral by the Trust may be
delayed or limited. </FONT></P>

<P><FONT SIZE=2><B>Segregation:</B> In cases in which the Investment Company Act of 1940, as amended, and
the interpretive positions of the Securities and Exchange Commission (the
&#147;Commission&#148;) require a Trust to segregate assets in connection with certain
investments (e.g., when-issued securities, reverse repurchase agreements or futures
contracts), each Trust will, consistent with certain interpretive letters
issued by the Commission, designate on its books and records cash or liquid
securities having a market value at least equal to the amount that would
otherwise be required to be physically segregated.</FONT></P>

<P><FONT SIZE=2><B>Federal Income Taxes:</B> It is each Trust&#146;s intention to continue to
be treated as a regulated investment company under the Internal Revenue Code
and to distribute sufficient amounts of their taxable income to shareholders.
Therefore, no Federal income tax provisions are required. As part of a tax
planning strategy, Advantage may retain a portion of their taxable income and
pay excise tax on the undistributed amounts.</FONT></P>

<P><FONT SIZE=2><B>Dividends and Distributions:</B> Each Trust declares and pays dividends and
distributions to common shareholders monthly from net investment income, net
realized short-term capital gains and other sources, if necessary. Net
long-term capital gains, if any, in excess of loss car-ryforwards may be
distributed in accordance with 1940 Act. Dividends and distributions are
recorded on the ex-dividend date. Income distributions and capital gain
distributions are determined in accordance with income tax regulations which
may differ from accounting principles generally accepted in the United States
of America.</FONT></P>

<P><FONT SIZE=2><B>Estimates:</B> The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires
management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements and the reported amounts of revenues
and expenses during the reporting period. Actual results could differ from
these estimates.</FONT></P>

<P><FONT SIZE=2><B>Deferred Compensation and BlackRock Closed-End Share
Equivalent Investment Plan:</B> Under the deferred compensation plan approved by each Trust&#146;s Board,
non-interested Trustees are required to defer a portion of their annual
complex-wide compensation. Deferred amounts earn an approximate return as
though equivalent dollar amounts had been invested in common shares of other
BlackRock closed-end funds selected by the Trustees. This has the same economic
effect for the Trustees as if the Trustees had invested the deferred amounts in
such Trusts.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
deferred compensation plan is not funded and obligations thereunder represent
general unsecured claims against the general assets of the Trust. Each Trust
may, however, elect to invest in common shares of those Trusts selected by the
Trustees in order to match its deferred compensation obligations.</FONT></P>

<P><FONT SIZE=3><B>Note 2. Agreements</B> </FONT></P>

<P><FONT SIZE=2>Advantage, Global and
Preferred Opportunity have an Investment Management Agreement with BlackRock
Advisors, Inc. (the &#147;Advisor&#148;), a wholly owned subsidiary of BlackRock, Inc.
BlackRock Financial Management, Inc., a wholly owned subsidiary of BlackRock,
Inc., serves as sub-advisor to Global and Preferred Opportunity. BlackRock,
Inc. is an indirect, majority owned subsidiary of The PNC Financial Services
Group, Inc. The Investment Management Agreement for Global, High Income and
Preferred Opportunity covers both investment advisory and administration
services. Advantage has an Administration Agreement with the Advisor.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
March 2, 2005, High Income entered into an Investment Management Agreement with
BlackRock Advisors, Inc. (the &#147;Advisor&#148;), and a sub-advisory agreement with
BlackRock Financial Management, Inc. Prior to March 2, 2005, High Income had an
Investment Management Agreement with CIGNA Investment Advisors, Inc. (&#147;CIAI&#148;)
and a sub-advisory agreement with Shenkman Capital Management, Inc.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Trust&#146;s, other than High Income, investment advisory fee paid to the Advisor is
computed weekly and payable monthly based on an annual rate, 0.50% of
Advantage&#146;s,&#160; average weekly net assets
and 0.75% of Global&#146;s and 0.65% of Preferred Opportunity&#146;s average weekly
managed assets. High Income&#146;s investment advisory fee paid to the current
Advisor and CIAI is/was computed weekly and payable monthly based on an annual
rate of 0.75% of the first $200 million of the Trust&#146;s average weekly managed
assets and 0.50% thereafter. The Advisor, in turn, pays BFM its sub-advisory
fee. &#147;Managed assets&#148; means the total assets of a Trust (including any assets attributable
to any borrowing that may be outstanding) minus the sum of accrued liabilities
(other than debt representing financial leverage). The administration fee paid
to the Advisor is computed weekly and payable monthly based on an annual rate
of 0.08% for Advantage based on the Trust&#146;s average weekly net assets.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the agreements, the Advisor provides continuous supervision of the
investment portfolio and pays the compensation of officers of each Trust who
are affiliated persons of the Advisor, as well as occupancy and certain
clerical and accounting costs for each Trust. Each Trust bears all other costs
and expenses, which include reimbursements to the Advisor for costs of
employees that provide pricing, secondary market support and compliance
services to each Trust. Prior to March 2, 2005, for administrative services,
High Income reimbursed CIAI for a portion of the compensation and related
expenses of the Treasurer and Secretary and certain persons who assist in
carrying out the responsibilities of those offices. For the six months ended
June 30, 2005, the Trusts reimbursed the Advisor the following amounts:</FONT></P>

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  <TD WIDTH="88%" VALIGN=BOTTOM>
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  </TD>
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  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="15%" NOSHADE COLOR=BLACK ALIGN=left>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>

 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Advantage</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4,163</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>17,309</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>High Income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Preferred Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>8,679</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the terms of their custody agreements, each Trust received earnings credits
from its custodian for positive cash balances maintained, which are used to
offset custody fees.</FONT></P>

<P ALIGN=CENTER><FONT SIZE=2>41</FONT></P>


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




<P><FONT SIZE=3><B>Note
3.&nbsp;Portfolio Investments</B></FONT></P>

<P><FONT SIZE=2>Purchases and sales of
investment securities, other than short-term investments, dollar rolls and U.S.
government securities, for the six months ended June 30, 2005, aggregated as
follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="57%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Purchases</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Sales</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="8%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Advantage</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6,681,039</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>44,566,971</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Global Floating Rate</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>174,348,766</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>169,825,306</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>High Income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>160,356,505</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>167,856,042</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Preferred Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>225,042,230</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>213,793,796</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases and sales of U.S.
government securities for the six months ended June 30, 2005, aggregated as
follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="57%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Purchases</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Sales</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="8%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Advantage</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2,545,996</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Preferred Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>13,911,037</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>13,891,016</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
Trust may from time to time purchase in the secondary market certain mortgage
pass-through securities packaged or master serviced by affiliates or
mortgage-related securities containing loans or mortgages originated by PNC
Bank or its affiliates, including Midland Loan Services, Inc., all of which are
affiliates of the Advisor. It is possible under certain circumstances, that
Midland Loan Services, Inc., or its affiliates, could have interests that are
in conflict with the holders of these mortgage-backed securities, and such
holders could have rights against Midland Loan Services, Inc. or its
affiliates.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
Federal income tax purposes, the following Trust had capital loss carryforwards
at December 31, 2004:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="13%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="17%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="18%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM NOWRAP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Capital Loss<BR>
  Carryforward Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Expires</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Capital Loss<BR>
  Carryforward Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Expires</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="33%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="45%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Advantage</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>98,294</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>2005</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6" NOWRAP>
  <P ALIGN=RIGHT><FONT SIZE=2>High
  Income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>28,686,393</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>2007</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>161,872</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>2008</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>35,363,213</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>2008</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>127,941</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>2009</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>55,878,284</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>2009</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>274,645</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>2010</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>102,576,339</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>2010</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>83,667</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>2011</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>28,467,396</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>2011</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>5,589,003</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>2012</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2,339,279</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>2012</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6,335,422</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>253,310,904</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accordingly,
no capital gain distributions are expected to be paid to shareholders of a
Trust until that Trust has net realized capital gains in excess of its
carryforward amounts.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Details
of open forward currency contracts at June 30, 2005 were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="17%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Foreign
  Currency</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Settlement<BR>
  Date</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Contract to<BR>
  Purchase/<BR>
  Receive</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value at<BR>
  Settlement<BR>
  Date</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Value at<BR>
  June 30,<BR>
  2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Unrealized<BR>
  Appreciation<BR>
  (Depreciation)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="81%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Global:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Bought:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Euro</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>07/26/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>&#128;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,594,866</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,421,797</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>(173,069</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Sold:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Euro</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>07/26/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>7,745,200</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>&#128;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10,169,633</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>9,378,652</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>790,981</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>07/26/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,800,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>&#128;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2,358,243</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>2,179,618</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>178,625</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>07/26/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>&#128;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,595,660</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,421,797</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>173,863</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Mexican Peso</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7/25/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>19,600,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,767,326</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,811,184</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(43,858</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1,099,611</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>High
  Income:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2><B>Sold:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Euro</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>07/26/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,238,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>&#128;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,613,461</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,499,093</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>114,368</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Details of open interest rate swaps at June
30, 2005 were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="17%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Notional<BR>
  Amount<BR>
  (000)</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Fixed<BR>
  Rate</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Floating<BR>
  Rate</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Termination<BR>
  Date</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Unrealized<BR>
  Appreciation</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="24%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Preferred Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>80,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4.495</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%(b)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6" NOWRAP>
  <P ALIGN=RIGHT><FONT SIZE=2>3-month
  LIBOR</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10/19/14</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>(1,002,984</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>35,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>5.19</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>(b)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3-month
  LIBOR</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>10/19/34</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>(3,006,539</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>(4,009,523</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>)</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="10" VALIGN=BOTTOM>
  <P><FONT SIZE=2>Details of credit default
  swaps at June 30, 2005 were as follows:</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Advantage</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>0.23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%(a)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>Contingent
  on</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>11/1/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>589</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>Credit
  Event</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4,300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>0.23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>(a)</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>Contingent
  on</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>11/1/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>163</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>Credit
  Event</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<DIV><FONT SIZE=1>(a)&nbsp;Trust pays floating
interest rate and receives fixed rate.</FONT></DIV>

<DIV><FONT SIZE=1>(b)&nbsp;Trust pays a fixed
interest rate and receives a floating rate.</FONT></DIV>

<P ALIGN=CENTER><FONT SIZE=2>42</FONT></P>


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


<P><FONT SIZE=3><B>Note
4.&nbsp;Borrowings</B></FONT></P>

<P><FONT SIZE=2><B>Reverse Repurchase Agreements:&nbsp;</B>The Trusts may enter into reverse repurchase
agreements with qualified third-party broker-dealers as determined by and under
the direction of each Trust&#146;s Board. Interest on the value of reverse
repurchase agreements issued and outstanding is based upon competitive market
rates at the time of issuance. At the time a Trust enters into a reverse
repurchase agreement, it will establish and maintain a segregated account with
the lender, containing liquid investment grade securities having a value not
less than the repurchase price, including accrued interest of the reverse
repurchase agreement. Details of open reverse repurchase agreements at June 30,
2005 were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="21%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="23%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust/Counter party</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rate</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Trade<BR>
  Date</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Maturity<BR>
  Date</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Net Closing<BR>
  Amount</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Par</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Advantage</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Lehman Brothers, Inc.</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3.13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6/08/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7/15/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>22,911,517</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>22,840,028</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3.13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6/08/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>7/15/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>8,991,556</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>8,963,500</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3.55</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6/30/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7/01/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>99,885</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>99,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>31,903,403</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Lehman Brothers, Inc.</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3.27</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6/16/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>7/07/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10,898,764</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>10,879,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3.27</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6/16/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7/07/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>12,844,010</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>12,844,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>23,723,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Preferred
  Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:25.9PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Lehman Brothers, Inc.</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>3.4</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6/30/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>7/11/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1,438,493</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>1,437,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Details
of underlying collateral for open reverse repurchase agreements at June 30,
2005 were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="21%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="23%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="6%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="9%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="8%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust/Counter party </B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Description</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Rate</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Maturity<BR>
  Date</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Original<BR>
  Face</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Current<BR>
  Face</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Market<BR>
  Value</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Advantage</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Lehman Brothers, Inc. </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Resolution
  Funding Corp.</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.00</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7/15/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>22,926,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>22,926,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>22,835,213</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Financing
  Grp. (FICO) Strips</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>0.00</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>12/06/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>9,100,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>9,100,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>8,963,591</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Tennessee
  Valley Authority</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.00</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>11/01/05</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>100,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>100,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>98,986</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>31,897,790</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Lehman Brothers, Inc.</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Republic of
  Chile</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6.875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4/28/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,400,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,400,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,622,960</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>United
  Mexican States</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3.84</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1/13/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>4,800,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>4,800,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>4,864,800</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Republic of
  South Africa</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>7.375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>4/25/12</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,400,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,400,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,749,440</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Malaxsio</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>8.75</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6/01/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>800,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>800,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>924,952</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Rouse Co.</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>5.375</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>11/26/13</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6,350,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6,350,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>6,220,714</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Federative
  Republic of Brazil</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>9.23</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>9/29/09</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7,000,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>8,120,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>25,502,866</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Preferred Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Lehman Brothers, Inc.</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>American
  General Institute</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Capital A</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>7.57</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>%</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>12/01/45</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,500,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,500,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>1,943,280</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=3 WIDTH="100%" NOSHADE COLOR=GRAY ALIGN=CENTER>

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

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Loan Payable:&nbsp;</B>High Income has an $80
million revolving credit Agreement (the &#147;Agreement&#148;), which expires on October
31, 2007. Prior to expiration of the Agreement, principal is repayable in whole
or in part at the option of the Trust. Borrowings under this Agreement bear
interest at a variable rate tied to the lender&#146;s average daily cost of funds,
or at fixed rates, as may be agreed to between the Trust and the lender. The
Trust may borrow up to 33<SUP>1</SUP>/<SUB>3</SUB>% of its total assets up to the committed
amount or 100% of the borrowing base eligible assets, as determined under the
terms of the Agreement. In accordance with the terms of the Agreement, the
Trust has pledged its portfolio assets as collateral for the borrowing.</FONT></P>

<P><FONT SIZE=2><B>Dollar Rolls:&nbsp;</B>The Trusts may enter into dollar rolls in which a Trust sells securities
for delivery in the current month and simultaneously contracts to repurchase
substantially similar (same type, coupon and maturity) securities on a
specified future date. During the roll period the Trusts forgo principal and
interest paid on the securities. The Trusts will be compensated by the interest
earned on the cash proceeds of the initial sale and/or by the lower repurchase
price at the future date. The Trusts did not enter into any dollar roll
transactions during the period ended June 30, 2005.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>43</FONT></P>


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


<P><FONT SIZE=3><B>Note
5.&nbsp;Distributions to Shareholders</B></FONT></P>

<P><FONT SIZE=2>The estimated tax character
of distributions paid during the six months ended June 30, 2005, and the tax
character of distributions paid during the year ended December 31, 2004, were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="33%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="11" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>June 30, 2005</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="11" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Distributions
  Paid From:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Ordinary<BR>
  Income</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Long-term<BR>
  Gains</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2><B>Liquidating</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Total<BR>
  Distributions</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="60%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Advantage*</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,456,919</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>2,456,919</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>14,318,463</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>14,318,463</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>High Income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>7,497,359</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>7,497,359</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Preferred Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>18,347,587</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>18,347,587</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="33%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="11" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>December 31, 2004</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="11" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Distributions
  Paid From:</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Ordinary<BR>
  Income</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Long-term<BR>
  Gains</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Liquidating</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Total<BR>
  Distributions</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="60%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Advantage*</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>554,749</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>8,917,875</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>9,472,624</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>9,709,034</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>9,709,034</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>High Income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>16,001,963</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>16,001,963</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Preferred Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>37,476,397</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3,767,780</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>41,244,177</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of June 30, 2005, the components of
distributable earnings on a tax basis were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="33%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="10%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
   </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Undistributed<BR>
  Ordinary<BR>
  Income</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Undistributed<BR>
  Long-term<BR>
  Gains</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Unrealized Net<BR>
  Appreciation</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
   </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="10%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

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

 </TR>
 <TR BGCOLOR="#E6E6E6">
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Advantage*</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>3,416,669</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>9,211,413</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>

 </TR>
 <TR>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P ALIGN=RIGHT><FONT SIZE=2>2,723,323</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P ALIGN=RIGHT><FONT SIZE=2>5,710,909</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>

 </TR>
 <TR  BGCOLOR="#E6E6E6">
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>High Income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>615,006</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
   </TR>
 <TR >
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=2>Preferred Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P ALIGN=RIGHT><FONT SIZE=2>499,409</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P ALIGN=RIGHT><FONT SIZE=2>9,313,602</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM >
  <P ALIGN=RIGHT><FONT SIZE=2>17,497,913</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  </TR>
</TABLE>
<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="5%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="95%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="20%" NOSHADE COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP colspan=2>
  <P><FONT SIZE=1>*&nbsp;The Trust is currently
  under a plan of liquidation. Shareholders should consult their tax advisor as
  to the proper tax treatment of distribution from the Trust.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=3><B>Note
6.&nbsp;Capital</B></FONT></P>

<P><FONT SIZE=2>There are 200 million of
$0.01 par value common shares authorized for Advantage. There are an unlimited
number of $0.001 par value common shares authorized for Preferred Opportunity
and Global. There are an unlimited number of no par value shares authorized for
High Income. At June 30, 2005, the common shares outstanding and the shares
owned by affiliates of the Advisor of each Trust were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="63%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="7%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Common Shares<BR></B><B>Outstanding</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Common Shares<BR></B><B>Owned</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="7%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Advantage</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>9,510,667</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>23,481,021</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>6,021</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>High Income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>54,404,224</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Preferred Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>18,305,777</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transactions
in common shares of beneficial interest from August 30, 2004 (commencement of
investment operations) through December 31, 2004 for Global were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="21%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="21%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="15%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="8" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Shares from</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="8" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Initial<BR>
  Public Offering</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Underwriters&#146; Exercising<BR>
  the Over-allotment Option</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Reinvestment<BR>
  of Dividends</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Net Increase in<BR>
  Shares Outstanding</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="18%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>23,006,021</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>475,000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>&#151;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>23,481,021</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the six months ended June 30, 2005, there were no additional shares issued
under the terms of Advantage&#146;s, Global&#146;s and Preferred Opportunity&#146;s Dividend
Reinvestment Plans. During the six months ended June 30, 2005, High Income
issued 212,961 common shares under the terms of its Dividend Reinvestment Plan.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Offering
costs of $924,000 ($0.04 per common share) incurred in connection with Global&#146;s
offering of common shares have been charged to paid-in capital in excess of par
of the common shares.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>44</FONT></P>


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


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of June 30, 2005, Global and Preferred Opportunity have the following series of
preferred shares outstanding as listed in the table below. The preferred shares
have a liquidation value of $25,000 per share plus any accumulated unpaid
dividends.</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="20%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="18%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Series</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Shares</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <P align=center><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Series</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Shares</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="22%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>T7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>3,246</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Preferred&nbsp;Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>T7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>2,944</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>W7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>3,246</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>W7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>2,944</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>R7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>3,246</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>R7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>2,944</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underwriting
discounts of $2,434,500 ($0.10 per common share) and offering costs of $400,260
($0.02 per common share) incurred in connection with the preferred share
offering of Global have been charged to paid-in capital in excess of par of the
common shares.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends
on seven-day preferred shares are cumulative at a rate which is reset every
seven days based on the results of an auction. The dividend range on the
preferred shares for Global and Preferred Opportunity for the six months ended
June 30, 2005 was 2.14% to 3.40%, and 2.21% to 3.46%, respectively.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global
and Preferred Opportunity may not declare dividends or make other distributions
on common shares or purchase any such shares if, at the time of the
declaration, distribution or purchase, asset coverage with respect to the
outstanding preferred shares and any other borrowings would be less than 200%.
The preferred shares are redeemable at the option of Global and Preferred
Opportunity, in whole or in part, on any dividend payment date at $25,000 per
share plus any accumulated or unpaid dividends whether or not declared. The
preferred shares are also subject to mandatory redemption at $25,000 per share
plus any accumulated or unpaid dividends, whether or not declared, if certain
requirements relating to the composition of the assets and liabilities of
Global and Preferred Opportunity, as set forth in Global&#146;s and Preferred
Opportunity&#146;s Declaration of Trust, are not satisfied. The holders of preferred
shares have voting rights equal to the holders of common shares (one vote per
share) and will vote together with holders of common shares as a single class.
However, holders of preferred shares, voting as a separate class, are also
entitled to elect two Trustees for Global and Preferred Opportunity. In
addition, the Investment Company Act of 1940, as amended, requires that along
with approval by shareholders that might otherwise be required, the approval of
the holders of a majority of any outstanding preferred shares, voting
separately as a class would be required to (a) adopt any plan of reorganization
that would adversely affect the preferred shares, (b) change a Trust&#146;s
sub-classification as a closed-end investment company or change its fundamental
investment restrictions and (c) change the nature of its business so as to
cease to be an investment company.</FONT></P>

<P><FONT SIZE=3><B>Note
7.&nbsp;Dividends</B></FONT></P>

<P><FONT SIZE=2>Subsequent to June 30, 2005,
each Board declared dividends from undistributed earnings per common share
payable July 31, 2005, to shareholders of record on July 15, 2005. The per
share common dividends declared were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="78%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="2%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" COLSPAN="2" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="12%" COLSPAN="2" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE="2"><B>Trust</B> </FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Common Dividend<BR>
  Per Share</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="5%" NOSHADE COLOR=BLACK ALIGN=LEFT>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Advantage</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>$</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.050000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Global Floating Rate</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.093300</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR BGCOLOR="#E6E6E6">
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>High Income</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.023000</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2>Preferred&nbsp;Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>0.166667</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
dividends declared on preferred shares for the period July 1, 2005 to July 31,
2005 for Global and Preferred Opportunity were as follows:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100">
 <TR style="font-size:1px">
  <TD WIDTH="21%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="17%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="5%" VALIGN=BOTTOM>
  <P ALIGN=RIGHT>&nbsp;</P>
  </TD>
  <TD WIDTH="4%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="3%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="11%" VALIGN=BOTTOM>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="1%" VALIGN=BOTTOM>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Series</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Dividends<BR>
  Declared</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P align=center><FONT SIZE=2><B>Trust</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Series</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2><B>Dividends<BR>
  Declared</B></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="21%" NOSHADE COLOR=BLACK ALIGN=left>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="4" VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <HR SIZE=1 WIDTH="100%" NOSHADE COLOR=BLACK ALIGN=CENTER>

  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Global</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>T7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>195,896</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=2>Preferred&nbsp;Opportunity</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=RIGHT><FONT SIZE=2>T7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P ALIGN=CENTER><FONT SIZE=2>179,348</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM BGCOLOR="#E6E6E6">
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>W7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>202,453</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=RIGHT><FONT SIZE=2>W7</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P ALIGN=CENTER><FONT SIZE=2>181,527</FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
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  <P ALIGN=RIGHT><FONT SIZE=2>R7</FONT></P>
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  <P ALIGN=CENTER><FONT SIZE=2>245,365</FONT></P>
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  <P ALIGN=RIGHT><FONT SIZE=2>R7</FONT></P>
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  <P ALIGN=CENTER><FONT SIZE=2>228,366</FONT></P>
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  </TD>
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 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=3><B><A NAME="A010"></A>DIVIDEND REINVESTMENT PLANS</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" COLOR=BLACK NOSHADE  ALIGN=CENTER>

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

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to each Trust&#146;s respective Dividend Reinvestment Plan (the &#147;Plan&#148;),
shareholders of Advantage, Global and High Income may elect, while shareholders
of Preferred Opportunity are automatically enrolled, to have all distributions
of dividends and capital gains reinvested by Equiserve Trust Company, N.A. (the
&#147;Plan Agent&#148;) in the respective Trust&#146;s shares pursuant to the Plan.
Shareholders who do not participate in the Plan will receive all distributions
in cash paid by check and mailed directly to the shareholders of record (or if
the shares are held in street or other nominee name, then to the nominee) by
the Plan Agent, which serves as agent for the shareholders in administering the
Plan.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
Advantage, Global and/or High Income declares a dividend or determines to make
a capital gain distribution, the Plan Agent will acquire shares for the
participant&#146;s account, by the purchase of outstanding shares on the open
market, on the Trust&#146;s primary exchange or elsewhere (&#147;open market purchases&#148;).
These Trusts will not issue any new shares under the Plan.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
Preferred Opportunity declares a dividend or determines to make a capital gain
distribution, the Plan Agent will acquire shares for the participant&#146;s account,
depending upon the circumstances described below, either (i) through receipt of
unissued but authorized shares from the Trust (&#147;newly issued shares&#148;) or (ii)
by open market purchases. If, on the dividend payment date, the NAV is equal to
or less than the market price per share plus estimated brokerage commissions
(such condition being referred to herein as &#147;market premium&#148;), the Plan Agent
will invest the dividend amount in newly issued shares on behalf of the
participants. The number of newly issued shares to be credited to each
participant&#146;s account will be determined by dividing the dollar amount of the
dividend by the NAV on the date the shares are issued. However, if the NAV is
less than 95% of the market price on the payment date, the dollar amount of the
dividend will be divided by 95% of the market price on the payment date. If, on
the dividend payment date, the NAV is greater than the market value per share
plus estimated brokerage commissions (such condition being referred to herein
as &#147;market discount&#148;), the Plan Agent will invest the dividend amount in shares
acquired on behalf of the participants in open-market purchases.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Participation
in the Plan is completely voluntary and may be terminated or resumed at any time
without penalty by notice if received and processed by the Plan Administrator
prior to the dividend record date; otherwise such termination or resumption
will be effective with respect to any subsequently declared dividend or other
distribution.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Plan Agent&#146;s fees for the handling of the reinvestment of dividends and
distributions will be paid by each Trust. However, each participant will pay a
pro rata share of brokerage commissions incurred with respect to the Plan
Agent&#146;s open market purchases in connection with the reinvestment of dividends
and distributions. The automatic reinvestment of dividends and distributions
will not relieve participants of any Federal income tax that may be payable on
such dividends or distributions.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Trust reserves the right to amend or terminate the Plan. There is no direct
service charge to participants in the Plan; however, each Trust reserves the
right to amend the Plan to include a service charge payable by the
participants. Participants who request a sale of shares through the Plan Agent
are subject to a $2.50 sales fee and a $0.15 per share sold brokerage
commission. All correspondence concerning the Plan should be directed to the
Plan Agent at 250 Royall Street, Canton, MA 02021 or (800) 699-1BFM.</FONT></P>

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  </TD>
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 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B><A NAME="A011"></A>BOARD REVIEW OF INVESTMENT MANAGEMENT AGREEMENTS</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" COLOR=BLACK NOSHADE  ALIGN=CENTER>

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

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
a meeting held on May 26, 2005, the board of trustees (the &#147;Board&#148; or the
&#147;Trustees&#148;) of each trust (each a &#147;Trust&#148;), including the independent trustees
(the &#147;Independent Trustees&#148;), unanimously approved the continuance of an
Investment Management Agreement between each Trust and BlackRock Advisors, Inc.
(the &#147;Advisor&#148;). For each Investment Management Agreement, the Boards also
approved a related Sub-Investment Advisory Agreement, when applicable, among
each respective Trust, the Advisor and BlackRock Financial Management, Inc.
(the &#147;Sub-Advisor&#148;). The Investment Management Agreements and the
Sub-Investment Advisory Agreements sometimes are referred to herein
collectively as the &#147;Agreements&#148;. The Advisor and the Sub-Advisor sometimes are
referred to herein collectively as &#147;BlackRock&#148;.</FONT></P>

<P><FONT SIZE=2><B>Information Received by the Boards</B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
assist each Board in its evaluation of the Agreements, the Independent Trustees
received information from BlackRock on or about April 27, 2005 which detailed,
among other things: the organization, business lines and capabilities of
BlackRock, including the responsibilities of various departments and key
personnel and biographical information relating to key personnel; financial
statements for BlackRock, Inc., the PNC Financial Services Group, Inc. and each
Trust; the advisory and/or administrative fees paid by each Trust to BlackRock,
including comparisons, compiled by an independent third party, with the management
fees of funds with similar investment objectives (&#147;Peers&#148;); the profitability
of BlackRock and certain industry profitability analyses for advisors to
registered investment companies; the expenses of BlackRock in providing the
various services; non-investment advisory reimbursements and &#147;fallout&#148; benefits
to BlackRock; the expenses of each Trust, including comparisons of the
respective Trust&#146;s expense ratios (both before and after any fee waivers) with
the expense ratios of its Peers; and each Trust&#146;s performance for the past
one-, three-, five- and ten-year periods, when applicable, as well as each
Trust&#146;s performance compared to its Peers. This information supplemented the
information received by each Board throughout the year regarding each Trust&#146;s performance,
expense ratios, portfolio composition, trade execution and compliance.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to the foregoing materials, independent legal counsel to the
Independent Trustees provided a legal memorandum outlining, among other things,
the duties of the Boards under the 1940 Act as well as the general principles
of relevant law in reviewing and approving advisory contracts, the requirements
of the 1940 Act in such matters, an advisor&#146;s fiduciary duty with respect to
advisory agreements and compensation, and the standards used by courts in
determining whether investment company boards of directors have fulfilled their
duties and factors to be considered by the boards in voting on advisory
agreements.</FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the Board meeting, the Independent Trustees reviewed a preliminary binder of
information, and, in consultation with independent counsel, submitted a
memorandum on May 12, 2005, to BlackRock setting forth certain questions and
requests for additional information. BlackRock responded to these questions in
writing on May 24, 2005 and May 25, 2005. The Independent Trustees reviewed
these responses with independent counsel on May 25, 2005.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the Board meeting on May 26, 2005, BlackRock made a presentation to and
responded to additional questions from the Boards. After the presentations and
after reviewing the written materials, the Independent Trustees met in
executive session with their legal counsel to review the Boards&#146; duties in
reviewing the Agreements and to consider the renewal of the Agreements. With
this background, the Boards considered each Agreement and, in consultation with
independent counsel, reviewed the factors set out in judicial decisions and
Securities and Exchange Commission statements relating to the renewal of the
Agreements.</FONT></P>

<P><FONT SIZE=2><B>Matters Considered by the Boards</B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with their deliberations, the Boards considered all factors they
believed relevant with respect to each Trust, including the following: the
nature, extent and quality of the services to be provided by BlackRock; the
investment performance of each Trust; the costs of the services to be provided
and profits to be realized by BlackRock and its affiliates from their
relationship with the Trusts; the extent to which economies of scale would be
realized as the BlackRock closed-end complex grows; and whether BlackRock
realizes other benefits from its relationship with the Trusts.</FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nature
and Quality of Investment Advisory and Sub-Advisory Services</I>. In evaluating the nature, extent and quality
of BlackRock&#146;s services, the Boards reviewed information concerning the types
of services that BlackRock provides and is expected to provide to each Trust,
narrative and statistical information concerning each Trust&#146;s performance
record and how such performance compares to each Trust&#146;s Peers, information
describing BlackRock&#146;s organization and its various departments, the experience
and responsibilities of key personnel and available resources. The Boards
further noted the willingness of the personnel of BlackRock to engage in open,
candid discussions with the Boards. The Boards further considered the quality
of BlackRock&#146;s investment process in making portfolio management decisions.
Given the Boards&#146; experience with BlackRock, the Boards noted that they were
familiar with and continue to have a good understanding of the organization,
operations and personnel of BlackRock.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to advisory services, the Independent Trustees considered the quality
of the administrative or non-investment advisory services provided to the
Trusts. In this regard, BlackRock provides each Trust with such administrative
and other services (exclusive of, and in addition to, any such services
provided by others for the Trusts) and officers and other personnel as are
necessary for the operations of the respective Trust. In addition to investment
management services, BlackRock and its affiliates provide each Trust with a
wide range of services, including: preparing shareholder reports and
communications, including annual and semi-annual financial statements and Trust
web sites; communications with analysts to support secondary market trading;
assisting with daily accounting and pricing; preparing periodic filings with
regulators and stock exchanges; overseeing and coordinating the activities of
other service providers; administering and organizing Board meetings and
preparing the Board materials for such meetings; providing legal and compliance
support (such as helping to prepare proxy statements and responding to
regulatory inquiries); and performing other Trust administrative tasks
necessary for the operation of the respective Trust (such as tax reporting and
fulfilling regulatory filing requirements). In addition, in evaluating the
administrative services, the Boards considered, in particular, BlackRock&#146;s
policies and procedures for assuring compliance with applicable laws and
regulations in light of the new Securities and Exchange Commission regulations
governing compliance. The Boards noted BlackRock&#146;s focus on compliance and its
compliance systems. The Independent Trustees noted that BlackRock&#146;s commitment
to supporting the secondary market for the common shares of its closed-end
funds is particularly noteworthy.</FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Investment Performance of the Trusts.</I> As previously noted, the Boards received myriad performance information
regarding each Trust and its Peers. Among other things, the Boards received
materials reflecting each Trust&#146;s historic performance and each Trust&#146;s
performance compared to its Peers. More specifically, each Trust&#146;s one-,
three-, five- and ten-year total returns (when applicable) were evaluated
relative to its respective Peers (including the performance of individual peers
as well as the Peers&#146; average performance). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Boards also reviewed a narrative analysis of the Peer rankings that was
prepared by an independent third party and summarized by BlackRock at the
Boards&#146; request. The summary placed the Peer rankings into context by analyzing
various factors that affect these comparisons. In evaluating the performance
information, in certain limited instances, the Boards noted that the Peers most
similar to a given Trust still would not adequately reflect such Trust&#146;s
investment objectives and strategies, thereby limiting the usefulness of the
comparisons of such Trust&#146;s performance with that of its Peers. The Boards
noted the quality of information provided by BlackRock throughout the year with
respect to the performance of the Trusts. The Boards considered this information
in connection with its deliberations as to whether the level of management
services provided to each Trust, in light of all the other facts and
circumstances relating to that Trust, supports a conclusion that the Trust&#146;s
Agreement should be renewed.</FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fees
and Expenses.</I> In
evaluating the management fees and expenses that a Trust is expected to bear,
the Boards considered each Trust&#146;s current management fee structure and the
Trust&#146;s expected expense ratios in absolute terms as well as relative to the
fees and expense ratios of applicable Peers. In reviewing fees, the Boards,
among other things, reviewed comparisons of each Trust&#146;s gross management fees
before and after any applicable reimbursements and fee waivers and total
expense ratios before and after any applicable waivers with those of the
applicable Peers. The Boards also reviewed a narrative analysis of the Peer
rankings that was prepared by an independent third party and summarized by
BlackRock at the request of the Boards. This summary placed the rankings into
context by analyzing various factors that affect these comparisons.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Boards also compared the management fees charged to the Trusts by BlackRock to
the management fees BlackRock charges other types of clients (such as open-end
investment companies and institutional separately managed accounts). With
respect to open-end investment companies, the management fees charged to the
Trusts generally were higher than those charged to the open-end investment
companies. The Boards also noted that BlackRock provides the Trusts with
certain services not provided to open-end funds, such as leverage management in
connection with the issuance of preferred shares, stock exchange listing
compliance requirements, rating agency compliance with respect to the leverage</FONT></P>

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<P><FONT SIZE=2>employed by
the Trusts and secondary market support and other services not provided to the
Trusts, such as monitoring of subscriptions and redemptions. With respect to
separately managed institutional accounts, the management fees for such
accounts were generally lower than those charged to the comparable Trusts. The
Boards noted, however, the various services that are provided and the costs
incurred by BlackRock in managing and operating the Trusts. For instance,
BlackRock and its affiliates provide numerous services to the Trusts that are
not provided to institutional accounts including, but not limited to: preparing
shareholder reports and communications, including annual and semi-annual
financial statements; preparing periodic filings with regulators and stock
exchanges; overseeing and coordinating the activities of other service
providers; administering and organizing Board meetings and preparing the Board
materials for such meetings; income monitoring; expense budgeting; preparing
proxy statements; and performing other Trust administrative tasks necessary for
the operation of the respective Trust (such as tax reporting and fulfilling
regulatory filing requirements). Further, the Boards noted the increased
compliance requirements for the Trusts in light of new Securities and Exchange
Commission regulations and other legislation. These services are generally not
required to the same extent, if at all, for separate accounts. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Boards considered this information in connection with its deliberations as to
whether the fees paid by each Trust under its Agreements, in light of all the
other facts and circumstances relating to that Trust, supports a conclusion
that the Trust&#146;s Agreements should be renewed.</FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Profitability.
</I> The Trustees also
considered BlackRock&#146;s profitability in conjunction with their review of fees.
The Trustees reviewed BlackRock&#146;s revenues, expenses and profitability margins
on an after-tax basis. In reviewing profitability, the Trustees recognized that
one of the most difficult issues in determining profitability is establishing a
method of allocating expenses. The Trustees also reviewed BlackRock&#146;s
assumptions and methodology of allocating expenses. In this regard, the methods
of allocation used appeared reasonable but the Boards noted the inherent
limitations in allocating costs among various advisory products. The Boards
also recognized that individual fund or product line profitability of other
advisors is generally not publicly available.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Boards recognized that profitability may be affected by numerous factors
including, among other things, the types of funds managed, expense allocations
and business mix, and therefore comparability of profitability is somewhat
limited. Nevertheless, to the extent available, the Boards considered
BlackRock&#146;s pre-tax profit margin compared to the pre-tax profitability of
various publicly-traded investment management companies and/or investment
management companies that publicly disclose some or all of their financial
results.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
evaluating the reasonableness of BlackRock&#146;s compensation, the Boards also
considered any other revenues paid to BlackRock, including partial
reimbursements paid to BlackRock for certain non-investment advisory services.
The Boards noted that these payments were less than BlackRock&#146;s costs for
providing these services. The Boards also considered indirect benefits (such as
soft dollar arrangements) that BlackRock and its affiliates are expected to
receive that are attributable to their management of the Trusts.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
reviewing each Trust&#146;s fees and expenses, the Boards examined the potential
benefits of economies of scale, and whether any economies of scale should be
reflected in the Trust&#146;s fee structures, for example through the use of
breakpoints. In this connection, the Boards reviewed information provided by
BlackRock, noting that most closed-end fund complexes do not have fund-level
breakpoints, as closed-end funds generally do not experience substantial growth
after their initial public offering and each fund is managed independently
consistent with its own investment objectives. The information also revealed
that only one closed-end fund complex used a complex-level breakpoint
structure, and that this complex generally is homogeneous with regard to the
types of funds managed and is about four times as large as the Trust&#146;s complex.
The Boards concluded that breakpoints were not warranted at this time.</FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Benefits.</I> In
evaluating fees, the Boards also considered indirect benefits or profits
BlackRock or its affiliates may receive as a result of their relationships with
the Trusts. The Trustees, including the Independent Trustees, considered the
intangible benefits that accrue to BlackRock and its affiliates by virtue of
their relationships with the Trusts, including potential benefits accruing to
BlackRock and its affiliates as a result of potentially stronger relationships
with members of the broker-dealer community, increased name recognition of
BlackRock and its affiliates, enhanced sales of other investment funds and
products sponsored by BlackRock and its affiliates and increased assets under
management which may increase the benefits realized by BlackRock from soft
dollar arrangements with broker-dealers. The Boards also considered the
unquantifiable nature of these potential benefits.</FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.
</I> During the
Boards&#146;deliberations in connection with the Agreements, the Boards were aware
that the Advisor pays compensation, out of its own assets, to the lead
underwriter and to certain qualifying underwriters of many of its closed-end
funds, and to employees of BlackRock and its affiliates that participated in
the offering of such funds. The Boards considered whether the management fee
met applicable standards in light of the services provided by BlackRock,
without regard to whether BlackRock ultimately pays any portion of the
anticipated compensation to the underwriters.</FONT></P>

<P><FONT SIZE=2><B>Conclusion</B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustees did not identify any single factor discussed above as all-important or
controlling. The Trustees, including a majority of Independent Trustees,
determined that each of the factors described above, in light of all the other
factors and all of the facts and circumstances applicable to each respective
Trust, was acceptable for each Trust and supported the Trustees&#146; conclusion
that the terms of each Agreement were fair and reasonable, that the respective
Trust&#146;s fees are reasonable in light of the services provided to the respective
Trust, and that the renewal of each Agreement should be approved.</FONT></P>

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  </TD>
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 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=3><B><A NAME="A012"></A>ADDITIONAL INFORMATION</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="100%" NOSHADE  COLOR=BLACK ALIGN=CENTER>

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

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Joint Annual Meeting of Shareholders was held on May 26, 2005, to elect a
certain number of Directors/Trustees for each of the following Trusts to three
year terms, unless otherwise indicated, expiring in 2008:</FONT></P>

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  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=421 VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=35 VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=85 VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=17 VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=16 VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=78 VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=16 VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH=9 VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P><FONT SIZE=2><B>Advantage</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="15%" NOSHADE  ALIGN=LEFT color=black>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Elected the Class I
  Director as follows:</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><BR><B>Director</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes For</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes Withheld</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="13%" NOSHADE color=black  ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="80%" NOSHADE  ALIGN=CENTER color=black>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="90%" NOSHADE  color=black  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>R. Glenn Hubbard<SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>7,765,403</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>774,075</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Elected the Class II
  Directors as follows:</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><BR><B>Director</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes For</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes Withheld</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="13%" NOSHADE color=black  ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="80%" NOSHADE  ALIGN=CENTER color=black>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="90%" NOSHADE  color=black  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Frank J. Fabozzi</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>7,772,629</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>757,849</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Kathleen F. Feldstein</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>7,765,148</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>765,330</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Walter F. Mondale</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>7,734,911</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>795,567</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Ralph L. Schlosstein</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>7,772,015</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>758,463</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P><FONT SIZE=2><B>Global</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="10%" NOSHADE color=black  ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Elected the Class I
  Trustees as follows:</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><BR><B>Trustee</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes For</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes Withheld</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="13%" NOSHADE color=black  ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="80%" NOSHADE  ALIGN=CENTER color=black>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="90%" NOSHADE  color=black  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Richard E. Cavanagh<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>7,729</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>24</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>R. Glenn Hubbard<SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>20,177,093</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>1,094,202</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>James Clayburn La Force, Jr.</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>20,174,396</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>1,096,899</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Elected the Class II
  Trustee as follows:</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><BR><B>Trustee</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes For</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes Withheld</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="13%" NOSHADE color=black  ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="80%" NOSHADE  ALIGN=CENTER color=black>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="90%" NOSHADE  color=black  ALIGN=CENTER>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Kathleen F. Feldstein<SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>20,177,284</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>1,094,011</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P><FONT SIZE=2><B>Preferred Opportunity</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="29%" NOSHADE color=black  ALIGN=LEFT>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2>Elected the Class II
  Trustees as follows:</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><BR><B>Trustee</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes For</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes Withheld</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="15%" NOSHADE  ALIGN=LEFT color=black>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="80%" NOSHADE  ALIGN=CENTER color=black>

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

  </TD>
  <TD  COLSPAN="2" VALIGN=TOP>
  <HR SIZE=1 WIDTH="90%" NOSHADE  ALIGN=CENTER color=black>

  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Frank J. Fabozzi<SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>6,985</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>161</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Kathleen F. Feldstein</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>17,520,587</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>215,310</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Walter F. Mondale</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>17,451,899</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>283,998</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE='MARGIN-RIGHT:0IN;MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT    SIZE=2>Ralph L. Schlosstein</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>17,524,145</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=2>211,752</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  COLSPAN="2" VALIGN=TOP>
  <P><HR  SIZE=1 NOSHADE WIDTH=120 COLOR=GRAY ALIGN=LEFT>

  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP:5PX"><FONT SIZE=1>Mr. Hubbard and Ms.
  Feldstein will serve until the end of the term for the class of
  Directors/Trustees to which they were elected, if such class was not standing
  for election at May 26, 2005 annual shareholders meeting.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following Trust had an additional proposal (Proposal #2A) to amend its
Declaration of Trust in order to change the maximum number of permitted
Trustees allowed on its Board to 11:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="32%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="19%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="22%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
  <TD WIDTH="24%" VALIGN=TOP>
  <P ALIGN=CENTER>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes For</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes Against</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes Withheld</B></FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Preferred
  Opportunity</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2>17,142,812</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2>392,617</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2>200,467</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following Trust had an additional proposal (Proposal #2B) to amend its
Declaration of Trust in order to reduce the maximum number of permitted
Trustees allowed on its Board from 15 to 11:</FONT></P>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="32%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="19%" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes For</B></FONT></P>
  </TD>
  <TD WIDTH="22%" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes Against</B></FONT></P>
  </TD>
  <TD WIDTH="24%" VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2><B>Votes Withheld</B></FONT></P>
  </TD>
 </TR>
<TR>
  <TD  VALIGN=TOP>&nbsp;</TD>
<TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="50%" NOSHADE  color=black  ALIGN=CENTER>
  </TD>
<TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="50%" NOSHADE  color=black  ALIGN=CENTER>
  </TD>
<TD  VALIGN=TOP>
  <HR SIZE=1 WIDTH="50%" NOSHADE  color=black  ALIGN=CENTER>
  </TD>
 </TR>
<TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=2><B>Global</B></FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2>19,981,501</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2>1,093,656</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P ALIGN=CENTER><FONT SIZE=2>196,138</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
March 1, 2005, the shareholders of CIGNA High Income Shares approved proposals
to: approve an advisory agreement between the Trust and BlackRock Advisors,
Inc., approve a sub-advisory agreement among the Trust, BlackRock Advisors,
Inc. and BlackRock Financial Management, Inc., and elect new Trustees, all of
whom currently oversee BlackRock&#146;s 54 closed-end funds, to serve until the next
Annual Meeting of Shareholders. Upon approval of the Trustees, BlackRock
Advisors, Inc. changed the name of the Trust to BlackRock High Income Shares.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
has been no material changes in the Trusts&#146; investment objective or policies or
to their charters or by-laws that have not been approved by shareholders or in
the principal risk factors associated with investment in the Trusts. There have
been no changes in the persons who are primarily responsible for the day-to-day
management of the Trusts&#146; portfolios.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quarterly
performance and other information regarding the Trusts may be found on
BlackRock&#146;s website, which can be accessed at http://www.blackrock.com/indiv/products/closedendfunds/funds.html.
This reference to BlackRock&#146;s website is intended to allow investors public
access to information regarding the Trusts and does not, and is not intended,
to incorporate BlackRock&#146;s website into this report.</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
of the officers of the Trusts listed on the inside back cover of this Report to
Shareholders are also officers of the Advisor or Sub-Advisor. They serve in the
following capacities for the Advisor or Sub-Advisor: Robert S. Kapito&#151;Director
and Vice Chairman of the Advisor and the Sub-Advisor, Kevin M.
Klingert&#151;Director of BlackRock Advisors, Inc. and Managing Director of the
Advisor and the Sub-Advisor, Henry Gabbay, Anne Ackerley and Bartholomew
Battista&#151;Managing Directors of the Advisor and the Sub-Advisor, James Kong and
Vincent Tritto&#151;Managing Directors of the Sub-Advisor, and Brian P.
Kindelan&#151;Managing Director of the Advisor.</FONT></P>

<P ALIGN=CENTER><FONT  SIZE=2>49</FONT></P>


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<P ALIGN=CENTER><FONT SIZE=5>BlackRock Closed-End Funds</FONT></P>

<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:50%">
<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Directors/Trustees</FONT><BR>
<FONT SIZE=2>Ralph L. Schlosstein, <I>Chairman <BR>
</I>Andrew F. Brimmer <BR>
Richard E. Cavanagh <BR>
Kent Dixon <BR>
Frank J. Fabozzi <BR>
Kathleen F. Feldstein<SUP>1 <BR>
</SUP>R. Glenn Hubbard<SUP>2 <BR>
</SUP>Robert S. Kapito <BR>
James Clayburn La Force, Jr. <BR>
Walter F. Mondale</FONT></P>

<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Officers</FONT><BR>
<FONT SIZE=2>Robert S. Kapito, <I>President </I><BR>Henry Gabbay, <I>Treasurer</I><BR>Bartholomew Battista, <I>Chief Compliance Officer</I><BR>Anne
Ackerley, <I>Vice President</I><BR>James Kong, <I>Assistant Treasurer</I><BR>Vincent B. Tritto, <I>Secretary</I><BR>Brian P.
Kindelan, <I>Assistant Secretary </I></FONT></P>

<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Investment Advisor</font><BR>
<FONT SIZE=2>BlackRock Advisors, Inc. <BR>
100 Bellevue Parkway <BR>
Wilmington, DE 19809 <BR>
(800) 227-7BFM</FONT></P>

<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Sub-Advisor<SUP>3</SUP></font><BR>
<FONT SIZE=2>BlackRock Financial
Management, Inc. <BR>
40 East 52nd Street <BR>
New York, NY 10022</FONT></P>

<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Accounting Agent and Custodian</font><BR>
<FONT SIZE=2>State Street Bank and
Trust Company <BR>
225 Franklin Street <BR>
Boston, MA 02110</FONT></P>
</div>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:50%">
<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Transfer Agent</font><BR>
<FONT SIZE=2>Equiserve Trust Company,
N.A. <BR>
c/o Computershare Investor Services <BR>
250 Royall Street <BR>
Canton, MA 02021 <BR>
(800) 699-1BFM</FONT></P>

<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Auction Agent<SUP>3</SUP></font><BR>
<FONT SIZE=2>Bank of New York <BR>
101 Barclay Street, 7 West <BR>
New York, NY 10286</FONT></P>

<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Independent Registered Public Accounting Firm</font><BR>
<FONT SIZE=2>Deloitte &amp; Touche LLP
<BR>
200 Berkeley Street <BR>
Boston, MA 02116</FONT></P>

<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Legal Counsel</font><BR>
<FONT SIZE=2>Skadden, Arps, Slate,
Meagher &amp; Flom LLP <BR>
Four Times Square <BR>
New York, NY 10036</FONT></P>

<P STYLE='MARGIN-RIGHT:0IN;  MARGIN-LEFT:8.65PT;TEXT-INDENT:-8.65PT'><FONT SIZE=3>Legal Counsel &#150; Independent Trustees </font><BR>
<FONT SIZE=2>Debevoise &amp; Plimpton
LLP <BR>
919 Third Avenue <BR>
New York, NY 10022</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
report is for shareholder information. This is not a prospectus intended for
use in the purchase or sale of Trust shares. Statements and other information
contained in this report are as dated and are subject to change.</FONT></P>

<P><FONT SIZE=2>BlackRock Closed-End Funds<BR>
c/o BlackRock Advisors, Inc.<BR>
100 Bellevue Parkway <BR>
Wilmington, DE 19809<BR>
(800) 227-7BFM</FONT></P>
</div>
<BR clear=all>

<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px" >
  <TD WIDTH="3%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="97%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP colspan=2>
<hr align=left size=1 noshade width=120>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>1</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Appointed as a Director/Trustee of all Trusts on
  January 19, 2005 and elected by Shareholders on May 26, 2005. </FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>2</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>Appointed as a Director/Trustee of each Trust on
  November 16, 2004. Elected by
  Shareholders on May 26, 2005 as a Director/Trustee for each Trust, except
  Preferred Opportunity for which Mr. Hubbard&#146;s class of Directors/Trustees did
  not stand for election.</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P STYLE="MARGIN-TOP: -5PX"><FONT SIZE=1><SUP>3</SUP></FONT></P>
  </TD>
  <TD  VALIGN=BOTTOM>
  <P><FONT SIZE=1>For Global and Preferred Opportunity.</FONT></P>
  </TD>
 </TR>
</TABLE>

<P><FONT SIZE=2>The Trusts will mail only
one copy of shareholder documents, including annual and semi-annual reports and
proxy statements, to shareholders with multiple accounts at the same address.
This practice is commonly called &#147;householding&#148; and is intended to reduce
expenses and eliminate duplicate mailings of shareholder documents. Mailings of
your shareholder documents may be householded indefinitely unless you instruct
us otherwise. If you do not want the mailing of these documents to be combined
with those for other members of your household, please contact the Trusts at
(800) 699-1BFM.</FONT></P>

<P><FONT SIZE=2>The Trusts have delegated to
the Advisor the voting of proxies relating to their voting securities pursuant
to the Advisor&#146;s proxy voting policies and procedures. You may obtain a copy of
these proxy voting policies and procedures, without charge, by calling (800)
699-1BFM. These policies and procedures are also available on the website of
the Securities and Exchange Commission (the &#147;Commission&#148;) at
http://www.sec.gov.</FONT></P>

<P><FONT SIZE=2>Information on how proxies
relating to the Trusts&#146; voting securities were voted (if any) by the Advisor
during the most recent 12-month period ended June 30th is available, upon
request, by calling (800) 699-1BFM or on the website of the Commission at
http://www.sec.gov.</FONT></P>

<P><FONT SIZE=2>The Trusts file their
complete schedules of portfolio holdings for the first and third quarters of
their respective fiscal years with the Commission on Form N-Q. Each Trust&#146;s
Form N-Q is available on the Commission&#146;s website at http://www.sec.gov. Each
Trust&#146;s Form N-Q may be reviewed and copied at the Commission&#146;s Public
Reference Room in Washington, D.C. Information regarding the operation of the
Public Reference Room may be obtained by calling (800) SEC-0330. Each Trust&#146;s
Form N-Q may also be obtained upon request, without charge, by calling (800)
699-1BFM.</FONT></P>


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


<TABLE ALIGN=CENTER  BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
 <TR style="font-size:1px">
  <TD WIDTH="59%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
  <TD WIDTH="40%" VALIGN=TOP>
  <P>&nbsp;</P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>This report is for
  shareholder information. This is not a prospectus intended for use in the
  purchase or sale of Trust shares. Statements and other information contained
  in this report are as dated and are subject to change.</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
<P ALIGN=RIGHT><img src="blackrock.jpg" alt="(BLACKROCK LOGO)"></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
 <TR>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>CEF-SEMI-5</FONT></P>
  </TD>
  <TD  VALIGN=TOP>
  <P><FONT SIZE=1>&nbsp;</FONT></P>
  </TD>
 </TR>
</TABLE>

<BR>
<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>
<B><FONT face="serif">Item 2. Code of Ethics.</FONT></B><br>
<FONT face="serif">Not applicable for semi-annual reports. </FONT>
<P>
<B><FONT face="serif">Item 3. Audit Committee Financial Expert.</FONT></B><FONT face="serif"> <br>
Not applicable for semi-annual reports. </FONT></P>
<P>
<B><FONT face="serif">Item 4. Principal Accountant Fees and Services.<br>
</FONT></B>
<FONT face="serif">Not applicable for semi-annual reports. </FONT></P>
<P>
<B><FONT face="serif">Item 5. Audit Committee of Listed Registrants.</FONT></B><FONT face="serif"> <br>
Not applicable for semi-annual reports. </FONT></P>
<P>
<B><FONT face="serif">Item 6. Schedule of Investments.<br>
</FONT></B>
<FONT face="serif">The Registrant&#146;s Schedule of Investments is included
as part of the Report to Shareholders filed under Item 1 of this Form. </FONT></P>
<P>
<B><FONT face="serif">Item 7. Disclosure of Proxy Voting Policies and Procedures
for Closed-End Management Investment Companies.<br>
</FONT></B>
<FONT face="serif">Not applicable for semi-annual reports. </FONT></P>
<P>
<B><FONT face="serif">Item 8. Portfolio Managers of Closed-End Management Investment
Companies.<br>
</FONT></B>
<FONT face="serif">Not applicable for semi-annual reports. </FONT></P>
<P>
<B><FONT face="serif">Item 9. Purchases of Equity Securities by Closed-End Management
Company and Affiliated Purchasers.<br>
</FONT></B>
<FONT face="serif">Not applicable because no such purchases were made during
the period covered by this report. </FONT></P>
<P>
<B><FONT face="serif">Item 10. Submission of Matters to a Vote of Security Holders. <br>
</FONT></B><FONT face="serif">Not
applicable because no applicable matters were voted on by shareholders during
the period covered by this report. </FONT></P>
<P>
<B><FONT face="serif">Item 11. Controls and Procedures.</FONT></B><FONT face="serif"> </FONT></P>
<P>
<FONT face="serif">(a) The Registrant's principal executive officer and principal financial officer have evaluated the Registrant's disclosure controls and procedures as of a date within 90 days of this filing and have concluded that the
Registrant&#146;s disclosure controls and procedures are effective, as of such date, in ensuring that information required to be disclosed by the Registrant in this Form N-CSR was recorded, processed, summarized, and reported timely. </FONT></P>
<P>
<FONT face="serif">(b) The Registrant's principal executive officer and principal financial officer are aware of no changes in the Registrant's internal control over financial reporting that occurred during the Registrant's 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. </FONT></P>
<P>
<B><FONT face="serif">Item 12. Exhibits.</FONT></B><FONT face="serif"> </FONT></P>
<P>
<FONT face="serif">(a) (1) Not applicable. </FONT></P>
<P>
<FONT face="serif">(a) (2) Separate certifications of Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. </FONT></P>
<P>
<FONT face="serif">(a) (3) Not applicable. </FONT></P>
<P>
<FONT face="serif">(b) Certification of Principal Executive and Financial Officers pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. </FONT></P>

<HR noshade  width="100%" size=4>

<P align="left" style="page-break-before:always"></P><PAGE>
<P align="center">
<B><FONT face="serif">SIGNATURES</FONT></B><FONT face="serif"> </FONT></P>
<P>
<FONT face="serif"> 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>
<FONT face="serif">(Registrant)_____BlackRock
Global Floating Rate Income Trust__________<BR><BR> </FONT></P>
<FONT face="serif">By: <u>/s/ Henry Gabbay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
</FONT>
<FONT face="serif">Name: Henry Gabbay </FONT><BR>
<FONT face="serif">Title: Treasurer </FONT><BR>
<FONT face="serif">Date:</FONT> <FONT face="serif">August 19, 2005</FONT><BR>
<P>
<FONT face="serif"> Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates
indicated. </FONT></P>
<p><FONT face="serif">By: <u>/s/ Robert S. Kapito&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><BR>
  </FONT>
    <FONT face="serif">Name: Robert S. Kapito </FONT><BR>
    <FONT face="serif">Title: Principal Executive Officer </FONT><BR>
    <FONT face="serif">Date: August 19, 2005 </FONT></p>
<p><BR>
    <FONT face="serif">By: <u>/s/ Henry Gabbay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u>    </FONT><BR>
  <FONT face="serif">Name: Henry Gabbay </FONT><BR>
  <FONT face="serif">Title: Principal Financial Officer </FONT><BR>
  <FONT face="serif">Date: </FONT><FONT face="serif">August 19, 2005</FONT><BR>

</p>
<HR noshade  width="100%" size=4>

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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>5
<FILENAME>c38790_ex99-cert.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor="#ffffff">
<P>
<B><FONT face="serif">EX-99.CERT </FONT></B></P>
<P>
<B><FONT face="serif">CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER </FONT></B></P>
<P>
<B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B><B><FONT face="serif"> </FONT></B></P>
<P>
<FONT face="serif">I, Robert Kapito, certify that: </FONT></P>
<P>
<FONT face="serif">1. I have reviewed this report on Form N-CSR of BlackRock Global Floating Rate Income Trust; </FONT></P>
<P>
<FONT face="serif">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>
<P>
<FONT face="serif">3. 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>
<P>
<FONT face="serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<P>
<FONT face="serif">a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P>
<FONT face="serif">b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P>
<FONT face="serif">c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days
prior to the filing date of this report based on such evaluation; and</FONT><FONT size=2 face="sans-serif"> </FONT></P>

<P>
<FONT face="serif">d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant&#146;s 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>
<P>
<FONT face="serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </FONT></P>
<P>
<FONT face="serif">a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and </FONT></P>
<P>
<FONT face="serif">b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
	<TD width=30% align=left>
<FONT face="serif">Date:</FONT> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August 19, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;	</u></TD>
	<TD width=40%>&nbsp;
	</TD>
	<TD width=30% align=center>&nbsp;

	</TD>
</TR>
<TR>
	<TD width="30%">
	</TD>
	<TD width="40%">
	</TD>
	<TD width="30%" align="center"><u><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Robert S. Kapito&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;	</u></TD>
</TR>
<TR valign="bottom">
	<TD width=30% align=left>&nbsp;

	</TD>
	<TD width=40%>&nbsp;
	</TD>
	<TD width=30% align=center>
<FONT face="serif">Robert S. Kapito</FONT>&nbsp;
	</TD>
</TR>
<TR valign="bottom">
	<TD width=30% align=left>&nbsp;

	</TD>
	<TD width=40%>&nbsp;
	</TD>
	<TD width=30% align=center>
<FONT face="serif">Principal Executive Officer</FONT>&nbsp;
	</TD>
</TR>
</TABLE><BR>

<HR noshade  width="100%" size=4>

<P align="left" style="page-break-before:always"></P><PAGE>
<P>
<B><FONT face="serif">EX-99.CERT </FONT></B></P>
<P>
<B><FONT face="serif">CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER </FONT></B></P>
<P>
<B><U><FONT face="serif">CERTIFICATIONS</FONT></U></B><B><FONT face="serif"> </FONT></B></P>
<P>
<FONT face="serif">I, Henry Gabbay, certify that: </FONT></P>
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<FONT face="serif">1. I have reviewed this report on Form N-CSR of BlackRock Global Floating Rate Income Trust; </FONT></P>
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<FONT face="serif">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>
<P>
<FONT face="serif">3. 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>
<P>
<FONT face="serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: </FONT></P>
<P>
<FONT face="serif">a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </FONT></P>
<P>
<FONT face="serif">b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </FONT></P>
<P>
<FONT face="serif">c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days
prior to the filing date of this report based on such evaluation; and</FONT><FONT size=2 face="sans-serif"> </FONT></P>

<P>
<FONT face="serif">d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant&#146;s 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>
<P>
<FONT face="serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </FONT></P>
<P>
<FONT face="serif">a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,
summarize, and report financial information; and </FONT></P>
<P>
<FONT face="serif">b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. </FONT></P>
<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR valign="bottom">
    <TD width=30% align=left><FONT face="serif">Date:</FONT> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August
        19, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></TD>
    <TD width=40%>&nbsp;</TD>
    <TD width=30% align=center>&nbsp;</TD>
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    <TD width="30%"></TD>
    <TD width="40%"></TD>
    <TD width="30%" align="center"><u><FONT face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
          Henry Gabbay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp; </u></TD>
  </TR>
  <TR valign="bottom">
    <TD width=30% align=left>&nbsp;</TD>
    <TD width=40%>&nbsp;</TD>
    <TD width=30% align=center><FONT face="serif">Henry Gabbay</FONT>&nbsp; </TD>
  </TR>
  <TR valign="bottom">
    <TD width=30% align=left>&nbsp;</TD>
    <TD width=40%>&nbsp;</TD>
    <TD width=30% align=center><FONT face="serif">Principal Financial Officer</FONT>&nbsp; </TD>
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<TYPE>EX-99.906CERT
<SEQUENCE>6
<FILENAME>c38790_ex99-906cert.htm
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<B><U><FONT face="serif">SECTION 906 CERTIFICATION</FONT></U></B><FONT face="serif"> </FONT></P>
<P>
<FONT face="serif">Pursuant to 18 U.S.C. &sect; 1350, the undersigned officers of BlackRock Global Floating Rate Income Trust (the "Company"), hereby certifies, to the best of their knowledge, that the Company's Report on Form N-CSR for the period
ended BlackRock Global Floating Rate Income Trust, (the "Report") fully complies with the requirements of Section 13(a) or 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>
<p><FONT face="serif">Dated: <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August 19, 2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  </u></FONT></p>
<p><FONT face="serif"><u>/s/ Robert S. Kapito&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></FONT><BR>
  <FONT face="serif">Name: Robert S. Kapito </FONT><BR>
<FONT face="serif">Title: Principal Executive Officer </FONT></p>
<p><FONT face="serif"><u>/s/ Henry Gabbay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></FONT><BR>
  <FONT face="serif">Name: Henry Gabbay </FONT><BR>
  <FONT face="serif">Title: Principal Financial Officer </FONT><BR>

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